What is a contractor license bond in Maine?
Contractor license bonds ensure contractors maintain legal compliance, operate ethically, and follow the rules and regulations of their industry. Maine’s Office of the Attorney General will investigate any complaints of non-compliant contractors in the state. Check with your municipality in Maine to learn if you’re required to get licensed and bonded to work in your local area. If a contractor breaks the law, a license bond helps protect parties that suffer harm or experience devastating financial effects. Maine contractor license bonds are contracts between three entities:
- The contracted company (the principal)
- The city requiring the bond for the work taking place in their area (the obligee)
- An organization taking on the responsibility for incidents that may occur (the surety)
Get a Maine Contractor License Bond:
Maine Contractor License Bond Requirements
Maine regulates contractors and construction-related companies much like many other businesses in the state. The first step to getting your business license is registering with the State of Maine. Several cities and counties in Maine also require contractors to secure a contractor’s license bond to conduct work in the area. Many locations may require additional construction bonds as well, such as:
- Bid Bonds: Assures the project owner that the contractor they select (usually the lowest bidder) will take the project seriously and honor the bid
- Performance Bonds: Ensures a contractor completes a project as specified in a contract – on time and within budget
- Payment Bonds: Guarantees a contractor pays their suppliers, laborers, and subcontractors on a current project
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In Maine, knowing which combination of bonds you need will depend on the type of work or project you plan to complete. To set up and operate your business in Maine, check with your local governing organization or contact ZipBonds directly. We can help you understand when you’ll need which surety bonds to run your business successfully.
Get Your Contractor License Bond in Maine
ZipBonds is the fastest and most secure option for getting bonded. Our all-digital platform is intuitive and straightforward. Apply online, email support@zipbonds.com or call 888.435.4191 to speak with an agent directly.
About ZipBonds.com
Founders Ryan Swalve and Zach Mefferd formed the vision for ZipBonds.com when they realized how overly complicated it was to help clients place surety. The frustration of being unable to incorporate the technology they’d used in other insurance-focused projects left them thinking “there has to be a better way.”
Fast forward a couple of years, and that better way is the impetus of everything we do at ZipBonds. We constantly look for innovative ways to improve the bonding process for our clients and agents. Our team comprises individuals who understand all angles of surety – for companies, agencies, and individuals. Incorporating everyone’s point of view to improve the process while simultaneously integrating cutting-edge technology is what sets our business apart.