Contractors gain massive advantage with this surety bond license
Financial Benefits and Cost Considerations
While the cost of a surety bond varies based on the project's size and the contractor's creditworthiness, it generally ranges from 1% to 15% of the total bond amount3. However, the investment in a surety bond can lead to significant financial benefits. Contractors with surety bonds often have access to more projects, which can increase their revenue streams. Additionally, having a surety bond can enhance your business's reputation, leading to repeat clients and referrals.