What is the bond amount for an Illinois Statewide Contractor License Bond?
The bond amount varies by county location. For counties within the Northeastern Illinois Planning Act region, the minimum bond amount is $50,000. For all other Illinois counties, the minimum is $25,000. Individual municipalities may set their own requirements within these parameters, so check with your specific city or village building department.
Who needs an Illinois Statewide Contractor License Bond?
Any contractor performing construction, alteration, repair, moving, wrecking, or demolition work in Illinois municipalities that require licensing must obtain this bond. This includes general contractors, specialty contractors (such as roofing contractors regulated by IDFPR and plumbing contractors regulated by IDPH), and subcontractors working across multiple jurisdictions in Illinois.
Who can file a claim against an Illinois Contractor License Bond?
Clients, property owners, subcontractors, or material/labor suppliers who have been harmed by the contractor's fraud, violation of licensing laws, or failure to fulfill contractual obligations can file a claim against the bond. Valid claims are investigated by the surety company and paid up to the bond amount. The contractor (principal) is then required to reimburse the surety for all paid claims.