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License Bond

City of Sioux Falls - Residential Building Contractor Bond

Residential Builder - Compliance Only

Overview

What it is.

Residential Builder - Compliance Only

Who usually needs it

Residential building contractors in Sioux Falls, South Dakota who engage in construction, renovation, or modification of residential single-family and two-family dwellings, townhomes, or projects requiring building permits (such as sheds, decks, basement finishing, new construction, or sheetrock replacement) must obtain this $20,000 bond as a condition of o…

Pricing & timing

What to expect.

Generic pricing

License bonds are required by state and local governments to ensure compliance with industry regulations. Typical Pricing:. • Small bonds (under $25,000): Typically $100–$250 per year (flat fee). • Larger license bonds: Commonly around 1–5% of the bond amount annually. • Credit impact: Good credit: starting around 1–2% · Average credit: typically 2–4% · Credit challenges: often 4–5% or higher. Same-day approval is typical for many common license bonds. Some license bonds may price higher de…

Typical timeframe

Issuance timeframe varies by bond type and underwriting

Application

What to do next.

  1. Tell us the bond name, state, and amount on your form.
  2. Share business and applicant info so the team can quote it.
  3. Sign and pay; we issue the bond and send you the documents.
  4. Keep your effective date and renewal date on file with us.
Start the application.

You are on the exact bond page. The next step is to start the quick application.

Details

Bond details.

StateSD
Bond amount$20,000
ObligeeCity of Sioux Falls, South Dakota
Bond classLicense Bond
CategoryOther
BondCity of Sioux Falls - Residential Building Contractor Bond
Plain descriptionResidential Builder - Compliance Only
Who needs this bondResidential building contractors in Sioux Falls, South Dakota who engage in construction, renovation, or modification of residential single-family and two-family dwellings, townhomes, or projects requiring building perm…
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Next step

Ready to move forward?

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