Alabama Contractors License Surety Bond
Any contractor performing commercial or industrial work in excess of $50,000 per job in the state of Alabama must be licensed by the Alabama Licensing Board for General Contractors.
At renewal all renewal applicants must have net worth or working capital of at least $10,000 as shown by the applicant’s most recent financial statement in order to qualify for the lowest bid limit classification. Licensees that do not meet the minimum net worth/working capital requirements for their bid limit can post a surety bond to add financial assurance and bridge the gap for the desired bid limits.
- If the net worth or working capital is negative $150,000
- If the desired bid limit is $300,000
The contractor must post a surety bond in the amount of $450,000 in order to meet the requirements of the board.
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