What is an Hawaii Contractor License Bond?
Hawaii Contractor License Bond's are required by Hawaii's Department of Commerce and Consumer Affairs to obtain your Hawaii Contractor License Bond. The Hawaii Contractor License Bond amount is set at $5,000.
The State requires a Contractor License bond for :
a $5,000 surety bond
Different parts of a bond:
There are 3 parts to a Contractor License surety bond. The Principal "YOU", The Surety Company, and the Obligee. The Principal is the business or individual applying for the Contractor License Surety Bond. The Obligee is the individual or entity requiring the Surety Bond and the Surety Company is the company who provides the Surety Bond coverage.
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Hawaii Contractor License Bond Information and Requirements:
1) Be not less than 18 years of age;
2) Have a good reputation for honesty, truthfulness, financial integrity and fair dealing;
3) Have 4 years of supervisory experience within the past 10 years;
4) Pass an examination in the appropriate classification;
5) Be employed by a licensed contracting entity.