Tulsa Bond Insurance
In the state of Oklahoma, all electrical, plumbing and mechanical contractors must be licensed at the state level. The licensing process is handled by the Oklahoma Construction Industries Board (CIB).
In order for a contractor license applicant to qualify for their license, they are required to furnish a $5,000 Contractor’s License Bond per classification in the name of the bond holder. If coverage is needed for more than one type of classification, the bond can be issued to cover each classification.
Oklahoma Contractor License Bonds are required by the Oklahoma Construction Industries Board. Bonds for electrical, mechanical and plumbing contractors in Oklahoma ensure that these professionals will work according to laws stated in Title 59 of the Oklahoma Statutes.
These bonds are continuous until canceled. If the surety decides to cancel this bond for any reason, 30 days of written notice must be given to the Construction Industries Board. The surety bond can have the company’s name on it, but it must always have the contractor’s name on it.