Oregon Contractor License Bond's are required by The Oregon's Construction Contractor Board. The state has several different bonds required for each specific license.
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 CCB cannot accept copies of bonds.
The bond(s) must be issued on a CCB bond form. No other bond form will be accepted. If your bond company does not have the CCB bond forms, they should call the CCB at 503-378-4621.
The bond(s) must be issued in the full legal name of the sole proprietor; all partners full legal names in a partnership or joint venture (JV); the full legal names of all partners in an LLP and the name of the LLP; the name of the corporation, LLC or trust. JV’s, LLP’s, Corp’s, LLC’s and trusts must match the name filed at the Oregon Corporation Division.
Limited partnerships should contact the CCB at 503-378-4621 for special instructions.
The bond(s) must have the original signature of the bond company’s attorney-in-fact.
If a power of attorney form is attached to the bond, do not remove it.
The bond(s) is not valid until it is submitted to and is put into effect by the CCB. The bond(s) must be submitted to the CCB no later than 60 days from the date the bond(s) was signed by the bond company or it is no longer valid.
All bonds must be continuous until canceled.