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South Carolina Registered Residential Specialty...

South Carolina Registered Residential Specialty Bond
Residential Specialty Contractor (5,000)
Contractor's License Bonds
Price: $125
South Carolina Registered Residential Specialty Bond

Residential Specialty Contr...

The State of South Carolina
Residential Specialty Contractor (5,000)

Surety Bond Details

State: South Carolina
Category: Residential Specialty...
Class: Contractor's License Bonds
Obligee: Residential Builders ...
Amount: $5,000
Duration: 1 Years

Cost: $125

The State Of South Carolina
Residential Specialty Contractor (5,000)
Category:
Contractor’s License Bonds
Obligee:
Residential Builders Commission
Amount:
$5,000
Duration:
1 Years
Expiration:
Surety Bond Insurance
 
SORPid: A-1
Residential Specialty Contractor (5,000) Details
South Carolina Registered Residential Specialty Bond
South Carolina Registered Residential Specialty Bond

The South Carolina Residential Specialty Contractors Act (SCRSCCA) was passed in 2011 to protect consumers and promote fair competition among residential specialty contractors. It requires all residential specialty contractors to register with the South Carolina Department of Labor, Licensing and Regulation to obtain a license. This includes plumbing, electrical, heating, air conditioning, roofing, masonry, carpentry, painting, drywall, tile, flooring, etc.  To qualify for licensure, applicants must pass a criminal history check and pay a fee. Applicants must also post a surety bond to cover any losses incurred.

Residential Specialty Contractor (5,000)

What is a South Carolina Registered Residential Specialty Contractor Bond?

A South Carolina Registered Residential Specialty Contractor Bond is a surety bond that ensures a contractor upholds the end of a contract and performs the work per industry standards. If the contractor fails to do so, the bondholder may file a claim against the bond and receive compensation up to the total bond amount.

Who Needs a South Carolina Registered Residential Specialty Contractor Bond?

All registered residential specialty contractors in South Carolina are required to obtain a bond. A registered residential specialty contractor works on residential properties and specializes in one or more areas, such as roofing, plumbing, electrical, HVAC, and more.

How to Obtain a South Carolina Registered Residential Specialty Contractor Bond

You'll need to contact a surety bond agency to obtain a South Carolina Registered Residential Specialty Contractor Bond. The agency will evaluate your qualifications and financial standing to determine your bond rate. Once approved for the bond, you'll need to sign the bond agreement and pay the premium.

Bond Amount and Cost

The South Carolina Residential Builders Commission requires residential specialty contractors to obtain a bond of at least $10,000. The cost of the bond will vary based on your qualifications and creditworthiness. Typically, contractors with good credit can expect to pay a premium of 1% to 5% of the bond amount.

Renewing Your Bond

A South Carolina Registered Residential Specialty Contractor Bond must be renewed every year. The surety bond agency that issued your bond will send you a renewal notice before expiration. To renew your bond, you must pay the premium and update your bond information if necessary.

[CONCLUSION]

A South Carolina Registered Residential Specialty Contractor Bond is for contractors in this field. By obtaining this bond, you can give your clients peace of mind and protect your business from potential financial loss. To become a registered residential specialty contractor in South Carolina, speak with a surety bond agency to obtain your bond.

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How do I get a South Carolina Registered Residential Specialty Bond?

The application process for a South Carolina Registered Residential Specialty Bond is quick and easy, usually only taking about five minutes from start to bond download (as with most our instant issue bonds). Simply click the "Buy Now" button below, complete the few questions for the bond application, pay your premium online, Docusign the agreements, then download your surety bond delivered via PDF. You can now print your now effective, signed and sealed bond in color.

By posting a surety bond, principals pledge to comply with the conditions of any written contract or applicable law.
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