Arizona Contractor License Bond
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An Arizona contractor license bond is a specific type of surety bond required by the state of Arizona before a contractor can be licensed for business within the state borders.
Key Highlights
- The purpose behind this requirement is to make sure that the interests of customers are being protected at all times.
- The requirement for contractor license bonds in Arizona is intended to ensure compliance with the provisions that are listed in the Arizona Revised Statutes, which are listed within Chapter 10.
- Any contractor who fails to live up to these statutes will be subject to a claim against their contractor bond, in which case the full amount of a valid claim could be lost by the contractor.
How do I purchase an Arizona contractor license bond?
NFP, the nation's largest and most reliable surety company, is authorized to issue surety bonds in each of the 50 states. We can provide the best rates for your Arizona contractor license bond, as well as the fastest issuance, to get your business off and running.
Our short online application makes it easy. Click below to start the application process today.
Arizona Contractor License Bond FAQs
Generally speaking, all residential and commercial contractors must purchase an Arizona contractor license bond in order to conduct business within the state. If you happen to operate both residentially and commercially, you would need to purchase both types of contractor bonds, or you could purchase a dual contractor bond, which covers both types. There are, however, some exceptions to this rule, so if you have any questions about whether you must purchase a contractor bond, you can find out by contacting the Arizona Registrar of Contractors.
The cost of an Arizona contractor license bond is calculated based on several different components. The first of these depends on the annual volume of work a contractor is expected to generate in any given year. This means that, for instance, a very small contractor might only be required to purchase a $10,000 contract bond, whereas a large and very busy contractor might have to purchase a bond for $250,000.
The idea behind the value of a specific Arizona contractor license bond is that it represents the maximum value of protection provided to all potential customers of the contractor. When you know the approximate value of your annual business volume, you can estimate the cost of the bond.
There are a number of requirements that you will be expected to fulfill in order to be eligible for receiving an Arizona contractor license bond, including:
- You have to fill out an application, which will be issued by the state.
- You must receive a passing score on an examination offered by the Arizona Trade and Business Management organization
- You must have a federal tax ID number
- You will be required to submit your application and all relevant documentation along with the fee for both the application and license
- All applicants must ensure that any company name that is submitted for licensure is actually available and unique before submitting an application. This can be verified with the Arizona Registrar of Contractors, and assuming no other contractor has taken your intended company name, you can reserve that name and incorporate your business.
- Required supporting documentation includes:
- Exam scores from your Arizona Trade and Business Management exam
- Experience and project documentation forms
- Photo ID
- A copy of your background check
- The original Arizona contractor license bond
- Proof of your company's structure or articles of organization
- Proof that you have obtained workers' compensation insurance, or that you intend to conduct business on a self-employed basis
- All fees that apply for your specific license type.
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