Residential General Contractor ($25,000) Bond - Statewide in Oregon

Brief Summary

Oregon raised the Residential General Contractor bond to $25,000 on January 1, 2024, and plenty of older checklists still say $20,000. Get the right amount on the CCB's residential form, written in your exact registered name, and the bond is one of the simplest pieces of a CCB license application.

Every Residential General Contractor licensed by the Oregon Construction Contractors Board files a $25,000 surety bond under ORS 701.068 and 701.081, along with at least $500,000 per occurrence in liability insurance. The bond guarantees payment of CCB determination orders, mainly homeowner and subcontractor claims, and stays in force until depleted by paid claims or cancelled by the surety on 30 days' written notice.

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How to Apply for a Residential General Contractor ($25,000) Bond:

• Business name exactly as registered with the Oregon Corporation Division, including full middle names where the form calls for them.
• Owner information for the surety's credit check.
• Approval and payment of the quoted premium.
• The signed $25,000 CCB Residential Surety Bond with power of attorney attached.
• Submission with the license application within 60 days of the bond date.
• Certificate of insurance showing at least $500,000 per occurrence.

Detailed Information About the Oregon Residential General Contractor ($25,000) Bond:

The amount changed in 2024

House Bill 2922 added $5,000 to every CCB endorsement bond effective January 1, 2024. The residential general bond went from $20,000 to $25,000. Many sureties raised existing bonds with a blanket rider. Others needed the contractor to request an individual increase rider.

What the endorsement covers

A Residential General Contractor may supervise, arrange for or perform an unlimited number of unrelated building trades on any residential or small commercial structure, and can also do the work of a residential specialty contractor. That small commercial scope matters. A contractor who also adds a commercial endorsement must file a second, separate commercial bond, because ORS 701.068 requires a bond for each endorsement.

How claims reach the bond

Homeowners, prime contractors, subcontractors, material suppliers and employees owed wages can file complaints with the CCB. Residential claimants first send a 30-day pre-complaint notice by certified mail to the contractor's address on record, then the CCB offers mediation. On a new structure, the complaint must be filed within one year of first occupancy or two years of substantial completion, whichever comes first. On existing structures, it is one year from substantial completion or when work stopped.

The bond does not cover attorney fees. When several claims arrive within the same 90-day period, the CCB may hold payment until all are resolved, since $25,000 is the total available to everyone.

Getting the form right

The CCB Residential Surety Bond (Rev 08/2023) names the State of Oregon Construction Contractors Board as obligee. It must be filed within 60 days of the date shown, the name must match Corporation Division records, and sole proprietors, partnerships, LLPs and joint ventures must use full middle names. New applicants submit the bond with the application, not separately.

Eligibility and Requirements for a Oregon Residential General Contractor ($25,000) Bond:

• At least 16 hours of approved pre-license training and a passing score on the Oregon exam.
• A corporate surety authorized to do business in Oregon.
• Obligee shown as the State of Oregon Construction Contractors Board.
• Workers' compensation coverage if the business has employees.
• A separate commercial bond if the business also holds a commercial endorsement.
• A two-year license under ORS 701.063, with a $400 renewal fee.

Oregon Residential General Contractor ($25,000) Bond FAQs:

Official and Additional Resources for the Oregon Residential General Contractor ($25,000) Bond: