Category Archives: Nevada Contractor

nevada contractor bonds

How Do You Get Nevada Contractor Bonds?

Getting your Nevada contractor license is the first step in getting the full coverage of a Nevada contractor bonds. There are clear benefits of getting your Nevada contractors license and being able to secure Nevada contractor bonds.

Being a licensed contractor means that you will be able to provide your clients with assured services from a professional business that they can trust. For many property owners, the Nevada contractors license and Nevada contractor bonds are a must-have.

Where to Start

Nevada contractor bonds are only available to licensed contractors. Your first step to getting your license is to take the Nevada contractors license exam. One of the best ways to ensure that you are fully prepared to do well on the exam is to enroll in a Nevada contractor license exam prep.

The Nevada contractor license requirements include the following:

  • Must be 18 years of age or older
  • Have at least 4 years of experience
  • Your work experience must have been within the previous ten years

Getting your license as a contractor in Nevada will allow you to get the Nevada contractors bond. Depending on the type of license you are applying for (there are 3 types) your surety bond can be up to $500,000.

Why Get Licensed and Bonded?

There are three good reasons why getting licensed and bonded is important to your business. The first is, of course, being licensed lends legitimacy to your business which attracts consumers. When you take the time to do things right it speaks volumes about what clients can expect from your business.

You will be able to bid on municipal projects, government projects, and other large projects. Every large project in Nevada will require that you have a license and that your business has a Nevada contractor bond.

A contractor bond is protection for your business, the client and the State of Nevada. It does not take the place of your business insurance but instead is an added layer of protection for all parties involved in the project.

Your Business Is Worth It

The US construction industry is worth about $1,162 billion. Getting your piece of the pie starts with making sure your business stays competitive. A contractor’s license and a Nevada contractor bond will keep your business competitive and help you grow it.

the nevada state contractors board

What You Need to Know About Contractor Licenses in Nevada

The United States construction market has been expanding steadily in the past few years, with a considerable number of companies venturing into the real estate sector in particular. In 2016, the U.S. construction market had grown to more than $1,162 billion, thanks in large part to new real estate development. It is therefore clear that the real estate sector is one of the most vibrant economic sectors in the country. This trend is likely to continue due to the strength of the economy and the increase in the number of young people buying properties.

There are also a considerable number of contractors looking to join the construction business. If you want to open your construction company in Nevada, there is important information you should know before you embark on your journey.

It is worth noting that the Nevada State Contractors Board is the body that regulates all construction work and contractors in the state of Nevada. So how can you get involved in construction in the state of Nevada?

License Applications and Requirements

The Nevada State Contractors Board requires that all construction companies and contractors apply for the necessary licenses. However, the license is not issued to everyone. You must prove that you have construction experience for the license application process to run smoothly. The Nevada State Contractors Board highlights that individuals can be allowed to apply for a contractor’s license if they have four years of experience as a foreman or supervisor. With experience in supervising physical construction, you can quickly get a license. The next step from a supervisory role is becoming a contractor. In most cases, the board considers any physical experience in construction as essential in the construction license application process.

For a long period, the Nevada State Contractors Board has not highlighted education as an important requirement in the contractor’s license application. However, Nevada contractor license requirements have now been updated with education as one of the major requirements. There is a three-year training program from an accredited Nevada contractors license school. There is also the Nevada contractor license exam preparation, where aspiring contractors have to take a test before they can get the license.

Requirement Exemptions

Besides the strict requirements that contractors need to get a license from the Nevada State Contractors Board, there are some exemptions. For instance, you will be exempt from getting a state license if you are working under the supervision of the Federal Government after a natural disaster. Additionally, operating under the jurisdiction of a court or the supervision of the state eliminates the need for contractor’s license. Building your own property does not require any licenses either, in most cases. However, this exemption is only valid if you are building your home. If the property is for commercial purposes, you have to get the necessary licenses from the Nevada State Contractors Board.

Exemptions don’t only apply when you are constructing a residential property and government-supervised structures. However, other exemptions will allow you to start working before getting the Nevada contractor license. For example, there are opportunities for exemptions when land is used for agricultural and farming activities. If you are engaged in construction activities on your farm, you can always consult Nevada contractor bond service for exemptions. It will help you save considerable amounts of money.

As seen above, licenses are necessary for the construction industry. If you are interested in the expanding construction business, you have to get the required permissions to start your trade. However, before getting the license, the board has to enforce several requirements that are geared towards enhancing professionalism and quality contractors. Nevertheless, there are several exemptions that you can consider upon consulting the licensing board.

nevada contractor license exam preparation

Steps To Prepare For A Nevada State Contractor’s License

According to the U.S. Chamber of Commerce, 66% of construction professionals believe that the market will continue to grow in the coming years. This is good news if you want to become a contractor in Nevada. We’re going to examine the steps you can take to become a licensed contractor in Nevada.

First, you do not have to be a Nevada resident to obtain a state sanctioned contractor’s license. You may obtain your license and then move into the state to do business. Other states will have different regulations regarding their licensing, such as the Arizona contractor license.

Steps To Becoming A Licensed Contractor In Nevada

Along with Nevada contractor license exam preparation, you’ll need to take these important steps in order to obtain a Nevada state contractor’s license.

  1. Qualifications. Before starting the process for Nevada contractor license exam preparation, you’ll want to make sure you are qualified. You’ll need a Nevada state business identification and journeyman level experience of at least four years. There are no educational requirements; however, education can supplement partially for years of experience.
  2. Which license? There are three kinds of contractor’s licenses in the state of Nevada. 1) Class A licenses are for those who will manage construction projects and where technical knowledge is needed. 2) Class B licenses are for residential and commercial general building contractors. 3) Class C licenses are specialty licenses for contractors who work in one of Nevada’s over 30 construction specialties. You can view the Nevada State Contractors Board for information on the specialty licenses.
  3. Application. Complete the application for the type of license you wish to obtain. Again, you can visit the Nevada State Contractors Board website for additional information on the application process.

What To Submit

Along with your application, you’ll need to turn in the following items:

  • $300 application fee
  • Resume
  • Four professional references,/li>
  • Background check information including fingerprints
  • Financial information

You’ll want to block out a considerable amount of time to gather the appropriate information and to fill out the application. You may need several hours, which may be spread out over a few days. Make sure you fill out all required information. You’ll have 60 days to appeal your application’s rejection, should you receive one.

Nevada Contractor License Exam Preparation

You’ll need to prepare for and take the Nevada state contractor’s license exam in order to obtain your license. There is a multiple choice general business and law exam, which covers business management and construction regulation issues. In addition, you may need to pass a supplemental trade exam, depending on your construction specialty.

For Nevada state contractor license exam preparation, you’ll want to register for an online preparatory class. You can study from home, or anywhere there is an Internet connection, and there are practice tests, and online help is available as well. To take the state sanctioned exam, however, you’ll need to travel to one of the state’s testing sites. See the board’s website for details and locations.

You have some helpful information on how to study for and obtain your Nevada state contractor’s license. Read through this article again, take notes, visit the Nevada State Contractors Board website, and then you can confidently begin the journey.

Nevada contractor bond service

Nevada Contractor Bonds: 3 Things You Need To Know

Before you can start working in the construction industry, you need to become a fully bonded and licensed contractor. In the state of Nevada, it’s legally required that every contractor licensed in the state has a Nevada contractor bond.

A contractor license bond is a type of surety bond that legally protects you as the contractor, the company that hired you, and the state bond issuing agency. Bond rates in Nevada start at 3% and then change based on credit, claims, and experience.

What do I need to know about my contractor’s bond?

The amount of your bond depends on the type of Nevada contractors license you’re requesting but it’s ultimately determined by the Nevada State Contractors Board. The board will take into account your experience, financial responsibilities, and your license type.

However, before you reach out to your local contractor bond services, it’s important to know a few things about your contractor’s bond.

  1. Your contractor bond is a legal promise. Your contractor bond is a legal bond. It assures the state of Nevada that you’ll adhere to all state regulations. In the event that you go against one of these regulations or against the law, a claim could be filed against you and the company that issued your bond. It’s important to note that anyone you work with can file a claim against you including clients, employees, and businesses. This might sound intimidating, but your bond isn’t meant to be a threat. It assures your clients and the state of Nevada that you’re there to do the best job you can.
  2. Your private life can jeopardize your bond. Your private behavior could be grounds for disciplinary action once you become licensed and bonded. This doesn’t mean you’re not allowed to act freely, but it does mean if you break the law that your bond and license could be revoked.
  3. Your bond isn’t insurance. Your contractor bond might sound like an insurance policy, but it’s not. The company that issued your bond will pay out claims, but you’ll be required to repay them for their expenditures. You’re also responsible for paying any legal obligations that come with that claim against you.

Where can I find a Nevada contractor bond service?

The construction industry is a growing industry with large gains in the commercial sector. In fact, the construction industry added 210,000 jobs in just 2017.

If you’re looking to get your Nevada contractor license and you need exam prep and Nevada contractor bond services to secure your contractor’s bond, Contractors Exam Center is the place for you. To learn more about our Nevada contractor bond services Nevada contractor license exam preparation services, contact Contractors Exam Center today.

Contractors Business Tips

Contractors Business Tips to Get You Started

Once your exam is passed, your bonding is in place, and your license number is issued, what next? Here are some important contractors business tips compiled from numerous sources to keep in mind when starting your new business. Each State Contractor Licensing Board has laws that should be reviewed for changes and updates on laws on Contractor Requirements. Go to the following websites for Nevada, California and Arizona Contractor License  requirements.

Nevada: Nevada State Contractors Board

California: Contractors State License Board

Arizona: Arizona Registrar of Contractors

Contractors Business Tips: Follow These Steps

  1. Enlist the services of required professionals, (legal, accounting, insurance, etc)
  2. Research and obtain general liability and other required insurance. Contractors Exam Center can assist you with this step.
  3. Obtain required state, city, and county licenses.
  4. Finalize your Business Plan. A great resource is SCORE (Service Corps of Retired Executives) , Small Business Administration  and Minority Business Enterprise
  5. Research sources for financing.
  6. Hire necessary employees.
  7. Secure Workers Compensation For quotes:
  8. Obtain pre approval for contract bonding, for more information:
  9. Print Business Cards, great deals can be found at:
  10. Order tools and Equipment.
  11. Prepare Contracts .
  12. Check to ensure licenses or persons with whom you contract are active and valid.
  13. Be sure that the contract is within the scope of work/license classification. If any additional licenses are required we offer exam prep and possible exam waivers, contact us at: Contact Us – Contractors Exam Center – Arizona and Nevada Contractor’s License.
  14. If it is not in your contract, it doesn’t exist. Make sure all change orders are in writing and signed by all parties.
  15. Make sure your license number is on all business advertisements, vehicles, business cards, letterhead, website, and any other place your business name appears in public.
  16. If your address or other pertinent information about your business changes, notify your state Board immediately.

Bonding Insurance Evaluation

Please call and check with one of our experienced license agents for your bonding and insurance needs Contractors License Center has a new instant quote page,  Contact Us – Contractors Exam Center – Arizona and Nevada Contractor’s License.

Contractor’s License Surety Bonds: AZ, NV, CA

Understanding Contractor’s License Surety Bonds

Contractor License Bonds are a type of Surety Bond, and are typically required from a variety of businesses, such as Contractors, as a pre-licensing requirement.  California, Arizona and Nevada Contractors are all required to post Contractor’s License Surety Bonds or a cash deposit. This type of bond is a guarantee that the contractor will satisfactorily complete all work for the owner according to the contract, and that all construction costs be paid. This is a three party agreement between the Surety Company (Guarantor), the Contractor (Principal) and the Owner (Obligee, such as in this case, the Contractors Board).

Each State Contractor Licensing Board has their own specific bond form and amounts required. Nevada, California and Arizona Contractor’s License Surety Bond requirements can be found using these links: Nevada: Nevada State Contractors Board; California: Contractors State License Board; and Arizona: Arizona Registrar of Contractors.

Contractors Exam Center is ready to help you acquire your bond. You can start your application here.

Is a Contractor’s License Surety Bond an Insurance Policy?

Contractor License Surety Bonds are not insurance. They do not protect the Contractor. The Contractor, who defaults, will be responsible pay back any money spent to complete the project.  Bonds function as a credit guarantee to the owner.

How much do Contractor’s License Surety Bonds cost?

Most contractors purchase a Contractor’s License Surety Bond in lieu of putting up a large cash deposit for a long period of time. For example, if the Nevada State Contractors Board requires a $10,000.00 bond, they would require a cashier’s check for $10,000.00 and a biennial fee of $200.00. If a Contractor opted to purchase a bond instead, the Surety Company would charge a premium of the bond amount which usually paid annually.  You can see bond rates here.

An important factor in determining premium is credit score based, however, some are instant issue. As a premium example from above, a $10,000.00 Nevada Contractors License with good credit could cost an experienced contractor approximately $300.00 annually, and discounts are offered in multi years.  Most Nevada Contractor License Surety Bonds $2,000.00 and under are instant issue, as are most Arizona Contractor License Commercial Surety Bonds.

Other Types of Surety Bonds

After a Contractor is licensed, they may be asked for additional bonding for public works, or large construction projects. These are called Contract Bonds, which are different than a Contractor’s License Surety Bond and include bid, payment and performance bonds. These guarantee the Contractor fulfills his contractual agreement as promised and that subcontractors are paid.

Contractors Exam Center is a great source to discuss these needs with you after licensing, as well as Liability Insurance and Workers Compensation. We can be reached at Contact Us – Contractors Exam Center – Arizona and Nevada Contractor’s License.   Next month we will discuss Liability and Workers Compensation in more detail.