Any person or business entity that is engaged for compensation in any construction activity involving improvements to real property, including roofing, siding, and general construction. Required when: Application for or renewal of a construction contractor license. Exemptions: Handymen, gutter cleaners, and pressure w…
Overview
What it is.
Any person or business entity that is engaged for compensation in any construction activity involving improvements to real property, including roofing, siding, and general construction. Required when: Application for or renewal of a construction contractor license. Exemptions: Handymen, gutter cleaners, and pressure w…
Who usually needs it
Any person or business entity that is engaged for compensation in any construction activity involving improvements to real property, including roofing, siding, and general construction.
Pricing & timing
What to expect.
Generic pricing
Performance bonds guarantee that a contractor will complete a project according to the contract terms. Typical Pricing:. • Small contracts: Commonly around 1–5% of the contract value (one-time upfront premium). • Larger contracts: Rates generally scale lower as contract size increases. • Credit impact: Good credit: starting around 1–2% · Average credit: typically 2–4% · Credit challenges: often 4–5% or higher. • Full underwriting required: Credit, financials, experience, and bon…
Typical timeframe
Full underwriting required — typically 3–5 business days
Application
What to do next.
Tell us the bond name, state, and amount on your form.
Share business and applicant info so the team can quote it.
Sign and pay; we issue the bond and send you the documents.
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.
StateORBond amountThe bond amount is determined by the license endorsement: Residential General (…Term lengthContinuousObligeeOregon Construction Contractors BoardRenewalThe bond remains in effect continuously until canceled by the surety. While the bond is continuous, the contractor's license must be renewed every two years, at which time the contractor must verify that the bond remain…Bond classPerformance BondCategoryConstructionBondConstruction Contractor Surety BondStatutory referenceORS 701.068JurisdictionState
