Get a free quote online with a soft credit pull.
As the nation's largest volume bond producer, we negotiate the best rates.
Your bond will be accepted, or we’ll refund your payment in full.
How Much Does a Contractor License Bond Cost in Maine?
The cost of a Contractor License Bond in Maine starts at $100. While the full bond amount you need can be $10,000 or more, you are only required to pay approximately 1% - 10% of that sum.
The cost of a Maine Contractor License bond depends on:
- Bond Amount Required: This is set by your obligee—the organization requiring you to get bonded. In the State of Maine, obligees for contractor license bonds are usually cities. As far as state contracting licenses, Maine only issues electrical licenses and plumbing licenses. Neither of which has a bonding requirement.
- Credit Score: This is the main factor that determines your bond cost ( the percentage of your bond that you must pay). Those with good credit and industry experience can often secure the best bond rates.
|
Surety Bond Cost Based on Credit Score |
|||
|
Surety Bond Amount |
Over 700 |
Between 600 – 699 |
Below 599 |
|
$10,000 |
$100 - $300 |
$300 - $500 |
$500 - $1,000 |
|
$20,000 |
$200 - $600 |
$600 - $1,000 |
$1,000 - $2,000 |
|
$25,000 |
$250 - $750 |
$750 - $1,250 |
$1,250 - $2,500 |
How to Obtain a Contractor License Bond in Maine
1. Find Your Bond Requirements
Maine does not have any licensing bond requirements at a state level. Instead, they are set by the city or county licensing you.
To find the bond amount you need, check the website of the city or county you are getting licensed with. This information can also commonly be found on contractor licensing or permit applications.
- You may also contact our bonding experts regarding bond requirements. We recently spoke to a very confused Maine contractor, Tom. He had heard about licensing bonds but was unsure what he needed for his electrical license. Our bond expert was able to tell him instantly that the Maine Electrical License currently does not need a bond.
2. Apply for Your Contractor License Bond
Our online bond application is the quickest and easiest way to get a bond quote. It is available 24/7 and sends your quote directly to your inbox.
To apply, you will need to know:
- Bond Amount Required
- Obligee Name
- Contact information
After submitting your application, your quote should appear in your email within a few minutes. Please check your Spam Folder.
3. Purchase Your Bond
To purchase your bond, log in to our website, fill out the forms, and pay your invoice. An electronic copy of your bond will be emailed. This copy is printable. However, if you also need the original bond, we can send it by mail.
Who Needs a Maine Contractor License Bond?
Contractors working in some regions of Maine may need a Contractor License Bond for licenses and permits. Maine does not issue licenses to general contractors. Instead, they leave licensing and permitting to the discretion of individual cities.
In general, areas in Maine rarely require a Contractor License Bond. You may, however, see other construction bonds needed for larger private or public projects. These include, but aren’t limited to:
Getting a Maine Contractor License
Maine plumbers and electricians need to apply for a contractor license through the State. Both have differing requirements, but they also have a lot of overlap. To successfully apply, you will need:
- Education – varies by designation (ex. Journeyman, Master, etc.). Some require an exam.
- Experience – depends on designation. Application must have a signed affidavit proving experience.
- Criminal background check.
- A complete application with your licensing fee attached.
Resources: