South Carolina General Contractor Bond Group 5 ($500,000) instead of providing a financial statement showing a minimum net worth for a licensed group as required by Section 40-11-260, an applicant may provide a surety bond from a surety authorized to transact surety business in this State in an amount of two times the required net worth for the applicant's license group with his initial or renewal application.

The required bond amounts are in parentheses:

• Group 1 General Contractor ($20,000)
• Group 2 General Contractor ($80,000)
• Group 3 General Contractor ($200,000)
• Group 4 General Contractor ($350,000)
• Group 5 General Contractor ($500,000)