Unlike other states, Michigan does not have a state requirement for contractors conducting business in the state to hold a contractor license surety bond. However, a number of cities and municipalities in Michigan do require contractors to submit a bond to conduct business. Bond amounts vary, depending on the city/municipality and type of construction being completed. Applicants should contact the city and/or government entity in charge of licensing and registration for their classification for specific information regarding bond amounts prior to bonding.
Contractor License Surety Bonds are a guarantee that the principal (contractor) conducts business in accordance with all relevant local and state provisions. A claim can be filed if the principal causes harm to either the obligee or the public and, if the claim is valid, the surety may pay out up to the penal sum of the bond. Any monies paid by the surety must be reimbursed by the principal.
Pacific Surety offers industry low rates and can obtain approvals for almost all credit situations. Once our simple application has been completed, we can have pricing to you within hours. If you have any specific questions, please contact our knowledgeable underwriting staff.
Surety Bond Name
Contractor License Surety Bonds – Michigan
VariesRequest a Free Quote