Electrical Contractor Bond
An Electrical Contractor Bond is what is typically required by your provincial Safety Authority to hold an electrical license. An original surety bond in the amount of $10,000 is the most commonly required electrical bond. Complete our online application and get instantly approved for your bond bearing the insurer’s signature and seal. We can have the bond mailed to you, available for pickup, or couriered for express delivery.
Frequently Asked Questions
An Electrical Contractor License Bond is a three party security agreement. It states that you and your business are backed by a Surety company. This bond is a financial instrument that guarantees your compliance with your local provincial Safety Standards Act. You can review a copy of the Safety Standard Act for BC here. An example of our Surety Bond wordings for BC can also be found here.
You require an Electrical Contractor Bond in order to obtain your provincial Safety Authority license in various provinces. Its purpose is to have a document in place that ensures electricians will fulfill their contractual obligations, as well as follow relevant laws. The bond is like a safety net for customers and the Safety Authority providing licensing. It’s also very important to obtain Commercial General Liability (CGL) Insurance for your electrical business – you can visit our Electrician Insurance page for more details, and to apply online today.
The cost of this bond can vary depending on the amount of the bond, duration of the bond, and other applicant specific information. As your insurance and bond broker, we will always strive to get you the best deal on your requested product. An Electrical Contractor License Bond can be offered by Netsurance for as low as $117 per year (with a 3 year duration ), pending the underwriting details mentioned above.
Completing our application for this bond does not cost anything or require you to proceed with the bond once a quote is provided – customer service is our first priority.