Lakemoor contractor license bonds.
$100.
Every general and subcontractor working in the Village of Lakemoor must file an original $10,000 surety bond with the village, naming the Village of Lakemoor and any applicable third-party beneficiaries as obligees, before a building permit will be issued. Our rate is 0.5% of the bond amount, $100 minimum, and no credit check.
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How much does a Lakemoor contractor license bond cost?
$100 for the $10,000 bond: the carrier’s $100 minimum, since 0.5% of the amount comes to less.
Three steps. One sitting.
No underwriting queue for the standard village contractor bond — apply, pay, and file with the village. Here is the whole thing:
Apply online
Your business details and an effective date — the bond amount is already set at $10,000.
Issued on the spot
No credit check, so most contractor bonds like this issue the moment you pay.
File with the Village
The original executed bond, listing the Village of Lakemoor and third-party beneficiaries as obligees, is mailed to Village Hall — a faxed or emailed copy is accepted to hold your place while the original is in transit.
What it is and who needs it.
What the bond actually guarantees
The Village of Lakemoor requires every general contractor and subcontractor to file an original $10,000 surety bond before a building permit will be issued. The bond assures that the contractor's work will be completed in accordance with the building permit and the village's code, and it names the Village of Lakemoor and applicable third-party beneficiaries as obligees.
It's a multi-party arrangement: you (the principal), the surety carrier, and the village and its named third-party beneficiaries as obligees — so a harmed property owner covered by the bond, not just the village itself, can potentially look to it. If a contractor's work fails to meet the permit conditions or village code, a claim can be made against the bond.
It is not insurance for you — if the surety pays a claim, you repay the surety. Lakemoor requires the signed original bond to be mailed to Village Hall; we deliver an executed bond you can mail the same day, and a faxed copy is accepted in the meantime.
You need this bond if you're
Claims, renewal, filing, and what sets the price.
If a claim is made
A claim comes from the party the bond protects, the obligee named on the form, when the duty the bond guarantees is not met.
The surety investigates and pays a valid claim, up to the $10,000 bond amount. You then repay the surety: a surety bond is a guarantee of your performance, not insurance for you.
Renewal and term
The premium covers a one-year term from the effective date you choose; a longer term is the same price per year, chosen at checkout.
Renew before the expiry date to keep the bond in force: the license, permit or contract it backs expects continuous coverage.
How to file it
File with the Village. The original executed bond, listing the Village of Lakemoor and third-party beneficiaries as obligees, is mailed to Village Hall — a faxed or emailed copy is accepted to hold your place while the original is in transit.
What sets the price
The premium is 0.5% of the bond amount, $100 minimum: the amount the obligee sets moves the price, not your business profile.
No credit check.
One application, issued on the spot.
These are the actual issuing fields. No credit check.
Start the application →Common questions.
Other Illinois bonds.
Been told you need a different amount?
Price and requirements checked on the carrier’s application, . Page updated .
Get your Lakemoor license bond today.
0.5% of the bond amount, $100 minimum, no credit check, bond often issued in the same sitting. Free until issued.