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  1. bad2thebond
    bad2thebond is offline Member
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    Oct 2008
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    81

    Contractor License

    Is it possble to get a Contractor License bond for more than 1 year?
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  2. h2o
    h2o is offline Senior Member
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    Sep 2008
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    Contractor License

    Quote Originally Posted by bad2thebond View Post
    Is it possble to get a Contractor License bond for more than 1 year?
    Certainly! Some states actually require the bond to have a 2-year term listed on it. But in the case that it's not required, you still have the option usually of prepaying for 2 or 3 years at a time if you'd prefer.
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  3. grasshopper
    grasshopper is offline Senior Member
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    Sep 2008
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    If I purchased a three year bond and I went out of buisness after the second year, would I collect the premium of the last remaining year?
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  4. Bond Magician
    Bond Magician is offline Senior Member
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    Oct 2007
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    401

    Contractor License

    Quote Originally Posted by grasshopper View Post
    If I purchased a three year bond and I went out of buisness after the second year, would I collect the premium of the last remaining year?
    It really depends on each particular situation. Generally, the premium is not returned after the first year.
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