Who needs a contractor license bond in Denison, Texas?
Right-of-way contractors must post a surety bond in Denison, Texas. The bond requirements are as follows:
- If working on a sidewalk construction/repair only: $1,000 bond
- All other types of right-of-way work: $10,000 bond
- Registration with the City of Denison
- Liability insurance (the amount depends on the extent of work performed)
- A State of Texas license, if applicable
Get Your Denison Contractor Bond:
How do contractor bonds work?
A contractor license bond guarantees clients that their hired contractors will follow local licensing laws and industry regulations – set by the obligee (e.g., the City of Denison). If a contractor breaks their bond contract, the party that suffers damages can file a claim. If the claim is legitimate, the surety will pay out the damages upfront. However, contractors must pay back all approved claims – up to the total bond amount – plus additional fees and interest. To get your bond, you’ll pay a small percentage of the bond amount, called a premium. ZipBonds can get many contractors bonded instantly, and premiums begin at just $100!
Frequently Asked Questions
How long will my bond cover my work?
A contractor bond typically lasts for one calendar year and must be renewed to remain active. The annual bond renewal deadline will be listed on your bond form.
What if a claim exceeds the bond amount?
The bond limit (penal sum) is the maximum dollar amount a client can receive by filing a claim against your contractor bond. If damages exceed that sum, clients may seek other forms of compensation. As a contractor, you can typically avoid allegations by responding to client complaints quickly and respectfully and finishing work on time.
Apply for Your Contractor Bond in Denison, TX
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.