Marine or waterway contractors (businesses or professionals specializing in water-related construction such as marinas, docks, piers, bridges, barge terminals, or underwater construction) need contract-specific payment and performance bonds to meet project owner requirements before starting contracts in Michigan, rather than for state licensing purposes.
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.
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.
StateMIBond amount$1,000ObligeeSt. Clair Shores, Macomb County, MichiganBond classLicense BondCategoryOtherBondMarine ContractorPlain descriptionMarine Contractor - Compliance OnlyWho needs this bondMarine or waterway contractors (businesses or professionals specializing in water-related construction such as marinas, docks, piers, bridges, barge terminals, or underwater construction) need contract-specific payment …
