Idaho Contractor License Bond's are required by Idaho's Division of Building Safety to obtain your Idaho Contractor License Bond. The Idaho Contractor License Bond amount is set at $2,000.
a $2,000 surety 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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THE LIABILITY OF THE SURETY upon this bond shall be and remain in full force and effect for the full period of the certification issued to the Principal above named or 60 days after receipt of the Obligee of a written notice signed by such Surety, or it’s authorized agent, stating that the liability of such Surety is thereby terminated and canceled. Provided further, that nothing herein shall affect any rights or liabilities which shall have accrued under this bond prior to the date of such termination and that the maximum liability of the Surety on the bond, regardless of the number of claims filed against the bond shall not exceed the sum of Two Thousand ($2,000.00) Dollars.