What is a Contractor's Bond?
The city of Amarillo’s Code Enforcement Department requires the purchase of a contractor license bond in order to comply with licensing requirements at the federal, state, and local levels.
A $10,000 Amarillo contractor’s bond is required for the following types of contractors:
- Landscape Irrigator or Irrigation Tech
- House Moving Contractor
- Non-electrical Sign Contractor
- Swimming Pool and Spa Contractor
- Water Treatment Equipment Installer Contractor
And a $20,000 bond is required for any of the following contractors:
- Residential Remodeler
- Insulation Contractor
- Commercial Roofing Contractor
- Residential Roofing Contractor
How Does a City of Amarillo Contractor's Bond Work?
A contractor’s bond is a binding agreement between 3 parties — a principal, an obligee, and a surety. The principal is the contractor, the obligee is the city of Amarillo’s Code Enforcement Department, and the surety is the insurance company guaranteeing the bond.
Contractor bonds are required to ensure compliance with rules and regulations. Ultimately, this is in the best interests of all parties and the public as it reduces the risk of property damage and further enforcement.
City of Amarillo contractor bonds are designed to protect the city and its citizens from violations of regulations and contractors who create public hazards by not complying with local and state ordinances. It also ensures that contractors take financial responsibility for not complying with regulations.
The surety bond makes it easy for the city to file a claim against a contractor to cover the cost of any damages incurred by a violation. The surety company will settle any valid claim and look to collect that amount from the principal who was responsible for the claim.
Surety bonds also benefit contractors by creating more trust between all parties due to contractors having a financial obligation to comply with regulations. This ultimately results in more work.
Pricing & Terms
Surety bond costs are a percentage of the full bond amount, which is usually determined by your personal credit. Providing industry experience, strong personal credit, and business/personal financials will help lower your bond rate. Reach out for a quote today.
How to Purchase
- Click the Buy Now button.
- Fill out the easy bond form.
- Confirm your order and select how you would like your bond documents delivered. Email or regular mail.
- Pay for your bond.
- If you chose to have your documents emailed, you will receive them within minutes.
It’s that simple and fast!
Bond Purchase Process
1. Find Your Bond
2. Secure Pricing
3. Buy Online
Get Started
The bonding process can be confusing and cumbersome. Our surety bond experts are standing by and ready to answer any questions. Let’s get you bonded today!
Frequently Asked Questions
Looking to Get Started or Have Questions?
The bonding process can be confusing and cumbersome. Our surety bond experts are standing by and ready to answer any questions. Let’s get you bonded today!