University Park contractor license bonds.
From $100.
The Village of University Park requires a general or sub-contractor to hold a contractor license before working inside the Village, and conditions that license on a $5,000 surety bond payable to the Village, filed with Village Hall alongside proof of general liability insurance. Premiums cost 0.5% of the bond amount, $100 minimum.
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How much does a University Park contractor license bond cost?
0.5% of the bond amount, from $100. Enter your amount in the calculator for the exact price.
Three steps. One sitting.
No long underwriting queue for the standard University Park contractor bond — apply, pay, and file with Village Hall. Here is the whole thing:
Apply online
Your business details, the $5,000 bond amount the Village requires, and the effective date — that is the application.
Approved
No credit check up to $10,000, and most applications approve instantly. Pricing is 0.5% of the bond amount, $100 minimum.
File with Village Hall
Your executed bond and power of attorney arrive by email, ready to file with Village Hall alongside your general and sub-contractor license application and certificate of insurance. Wet-ink original mailed on request.
What it is and who needs it.
What the University Park contractor bond actually guarantees
The Village of University Park licenses general and sub-contractors performing work inside the Village and conditions that license on a $5,000 surety bond, made payable to the Village of University Park, filed with Village Hall along with a certificate of general liability insurance. It is a compliance guarantee — it stands behind a licensed contractor's promise to work to the Village's codes and to honor the conditions of any permit pulled under the license.
It is a three-party arrangement: you (the principal), the surety carrier, and the Village of University Park (the obligee), with the Village and the public as the protected parties. If licensed work violates Village code and the Village or a harmed party suffers a loss, they can recover against the bond up to the $5,000 penal sum.
It is not insurance for you — if the surety pays a claim, you repay the surety. Certain trades carry an additional state-level credential on top of the Village license and bond: plumbers file an Illinois State Plumber's License and registration, roofers an Illinois State Roofer's License, and electricians a certification from a state-approved testing facility. Confirm your license category and current renewal date with Village Hall before you apply.
You need this bond if you are
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 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.
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 Village Hall. Your executed bond and power of attorney arrive by email, ready to file with Village Hall alongside your general and sub-contractor license application and certificate of insurance. Wet-ink original mailed on request.
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 up to $10,000. Above that, the carrier may run a soft pull, which never affects your score.
Where a check runs, it decides approval; the rate is the same for everyone approved.
One application, issued instantly.
These are the actual issuing fields. No credit check up to $10,000.
Start the application →Common questions.
Other Illinois bonds.
Price and requirements checked on the carrier’s application, . Page updated .
Finish your University Park license today.
From $100, no credit check up to $10,000. Enter your amount and file with Village Hall the same day. Free until issued.