Who needs a contractor license bond in Durham County, North Carolina?
Contractors working in stormwater management in Durham County must post a surety bond. The bond amount must be 125% of the cost of construction of the stormwater device(s) associated with the proposed improvements. These contractors must also obtain a permit, which requires submitting the following in addition to bonding:
- A Durham County stormwater financial responsibility/ownership form with landowner consent
- Approval of stormwater construction drawing plans and calculations
- Approval by the Division of Water Quality of the North Carolina Department of the Environment and Natural Resources (if the proposed development affects riparian buffer areas)
Get Your Durham County Contractor License Bond:
How does a contractor license bond work?
A contractor license bond ensures that contractors fulfill all obligations to their clients. By signing the bond, contractors agree to follow the standards and regulations of the obligee (Durham County). Clients can file a claim for damages if a contractor’s work fails to meet any part of the bond agreement. The surety initially pays out approved claims, but contractors must ultimately pay back these claims in full, up to the total bond amount. To acquire your bond, you will pay a premium, a small percentage of the penal sum. ZipBonds offers contractor license bond premiums starting at just $100.
Frequently Asked Questions
When do I need to renew my bond?
Bonds often run for one-year terms. The bond renewal date will be listed on your bond form. You must keep your bond and license up to date to ensure legality.
Will I need multiple contractor license bonds?
Often, only one bond is necessary. However, there are some cases where multiple bonds (such as a local and state bond) may be required. Ensure you understand your municipality’s requirements before getting bonded and starting work.
Apply for Your Contractor Bond in Durham County, NC
ZipBonds offers 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.