General contractors who do not meet the minimum net worth or working capital requirements ($10,000 minimum) for their desired bid limit classification. Required when: Required when a contractor's financial statement fails to substantiate the minimum net worth or working capital required for the requested bid limit dur…
Overview
What it is.
General contractors who do not meet the minimum net worth or working capital requirements ($10,000 minimum) for their desired bid limit classification. Required when: Required when a contractor's financial statement fails to substantiate the minimum net worth or working capital required for the requested bid limit dur…
Who usually needs it
General contractors who do not meet the minimum net worth or working capital requirements ($10,000 minimum) for their desired bid limit classification.
Pricing & timing
What to expect.
Generic pricing
Miscellaneous commercial bonds cover a wide range of business obligations not fitting other categories. Typical Pricing:. • Small bonds (under $25,000): Typically $100–$250 per year (flat fee). • Larger 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. Pricing varies by specific bond type and requirements. Some miscellaneous bonds may price higher depending o…
Typical timeframe
Credit-based approval — varies by bond type
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.
StateALBond amountThe bond amount must be equal to the applicant's negative working capital or ne…Term lengthContinuousObligeeAlabama Licensing Board for General ContractorsRenewalThe bond must be maintained and proof provided to the Board as long as the financial deficiency exists to support the license's bid limit classification.Bond classMiscellaneous CommercialCategoryConstructionBondSurety BondStatutory referenceAlabama Code § 34-8-2(a)JurisdictionState
