Bond Amount
Determined by Nevada State Contractors Board
Requiring Entity
Nevada State Contractors Board
Underwriting Criteria
Approval and rate determined by personal credit of business owner/applicant and bond amount. Most bonds are approved based solely on credit, but higher bond amount may require financial statements.
Premium Rate
Based on review of credit report and bond amount
Who is Required to Secure this Bond?
All licensed contractors in the State of Nevada are required to provide a Nevada contractor license bond. The bond amount can vary from $1,000 to $500,000 depending on the type of license requested, monetary limit granted, past, present or future financial responsibility, experience and character of the applicant.
Why is the Bond Required?
The bond is required by the Nevada State Contractors Board to comply with the licensing requirements of the Board.
Who is Protected Under this Bond?
The Nevada contractor license bond is payable to the State of Nevada and provides protection for consumers receiving services from licensed contractors.
Underwriting Process
A completed application is required to consider approval for this bond. All bond amounts require a credit check of the business owner/applicant (high bond amounts may require financial statements). Once a completed application is received, it will be submitted for approval and rating. A response regarding the approval and rate of the bond will be provided within 24 business hours after receipt of application.
What you Need to do Once you Have your Bond?
The original bond must be filed with the Nevada State Contractors Board once approved and executed. The State will not accept faxed or emailed copies of the bond and the bond must be filed within 30 days of the effective date. Once filed with the State, the bond will remain in effect until cancelled by the surety company or principal.
Addtional Resources
Nevada State Contractors Board