In lieu of providing a financial statement showing a minimum net worth for a license group as required by
Section 40-11-260, an applicant may provide a surety bond from a surety authorized to transact surety
business in this State in an amount of two times the required net worth for the applicant's license group with
his initial or renewal application.
• Group 1 General Contractor ($20,000) Bond
• Group 2 General Contractor ($80,000) Bond
• Group 3 General Contractor ($200,000) Bond
• Group 4 General Contractor ($350,000) Bond
• Group 5 General Contractor ($500,000) Bond
Group 1 Mechanical Contractor ($7,000) Bond
• Group 2 Mechanical Contractor ($20,000) Bond
• Group 3 Mechanical Contractor ($40,000) Bond
• Group 4 Mechanical Contractor ($80,000) Bond
• Group 5 Mechanical Contractor ($400,000) 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.
Try our 100% Secure Contractor License Bond Online Application to get the Lowest Contractor License bond rates in all 50 States.
If you are a Residential builder Contractor, Residential Specialty Contractor or Registered Residential Specialty Contractor you will also need a bond. This bond requirement can not be waived by a financial statement.
Residential Builder/Certificate of Authorization ($15,000)
Licensed Residential Specialty Contractor (HVAC, plumber, or electrician) ($10,000)
Registered Residential Specialty Contractor ($5,000)
You can buy your South Carolina Contractor License Bond (Apply) online immediately