What Is A Wisconsin Contractor’s License Bond?
When a contractor is hired to do any type of construction work, there are three different parties involved who will need their interests protected: the state, the owner of the development, and the citizens of Wisconsin. In order to ensure that all three parties are protected properly, the individual or business must hold a contractor’s license bond. This bond is a surety bond that is required by state law for any contractor who will be doing business in WI.
The contractor’s license bond protects the state by ensuring safety and building codes are complied with by that contractor. The surety bond protects the owner of the land in that the contractor will be showing that they will be given the type of work provided. Finally, the bond will protect citizens who may occupy that building stating that the contractor will work professionally and safely to provide a sound environment.
To apply for a contractor’s license bond in Wisconsin, you do not have to do anything more than contact Ox Bonding.