Frequently Asked Questions
Can a residential general contractor use the same bond for multiple construction projects, or is a separate bond required for each project?
In Oregon, the Residential General Contractor Bond typically applies to the contractor’s overall licensing and is not project-specific. This means that a single bond can cover multiple construction projects undertaken by the contractor as long as they are within the scope of the contractor’s licensed activities. However, the bond must remain valid and meet the bond requirements throughout the duration of all the projects it covers.
Is the bond amount for residential general contractors in Oregon adjusted based on the size or complexity of the construction projects they undertake?
The bond amount for residential general contractors in Oregon is typically a fixed amount of $20,000 and does not vary based on the size or complexity of individual construction projects. While project-specific performance bonds or payment bonds may be required for certain projects, the Residential General Contractor Bond primarily serves as a financial assurance that the contractor will fulfill their overall licensing obligations and responsibilities.
Can a residential general contractor get a refund or have the bond released if they decide to cease their construction activities in Oregon or if their license is no longer active?
When a residential general contractor decides to cease their construction activities in Oregon or if their license becomes inactive, they may be eligible for a bond release or refund, provided they have met all the necessary requirements and obligations. The process typically involves verifying that the contractor has fulfilled their obligations, resolved any outstanding issues, and has a valid reason for the bond’s release or refund. Contractors should work with the Oregon Construction Contractors Board (CCB) or the relevant regulatory authority to initiate the release or refund process.