Contractor License

[bad2thebond]

Is it possble to get a Contractor License bond for more than 1 year?

[h2o]

Originally Posted by bad2thebond

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.

[grasshopper]

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?

[Bond Magician]

Originally Posted by grasshopper

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.