SC general contractor bonds.
$600 flat.

South Carolina lets a Group 2 general contractor file a $60,000 surety bond in lieu of a financial statement under § 40-11-262 — the bond matches the $60,000 net worth for the group. Ours is $600 flat, set by our carrier's rate book for this bond. One soft credit pull, e-signed in 1–2 business days.

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Files in lieu of a financial statement for your Group 2 general license under § 40-11-262

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Fixed amount, fixed price — $60,000 bond, $600 flat, no quote theater

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Soft credit pull only — never affects your score, and the price stays $600 either way

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How it works

Three steps to licensed.

Your license is waiting on either a financial statement or this bond. Here's the entire process — no broker phone tag:

TODAY · ONLINE

Apply once, online

Business details, owner information, effective date. The only extra step is a one-time consent to a soft credit pull.

WITHIN 48 HOURS

Reviewed & approved

Most of these clear quickly; if underwriting needs anything, you hear from an underwriter within 48 hours. The credit check is a soft pull that never affects your score.

1–2 BUSINESS DAYS

E-sign & file with the Board

Pay online and receive the executed bond ready to file with the Contractor's Licensing Board in lieu of your financial statement. Wet-ink originals mailed whenever the Board insists.

About this bond

What it is and who needs it.

What the bond actually does

South Carolina licenses general contractors through the Contractor's Licensing Board at LLR, and sorts them into groups by the size of work they can take on. Each group carries a minimum net worth — for general Group 2, that is $60,000.

Under § 40-11-262, instead of proving that net worth with a financial statement, you may file a surety bond in the same amount. The bond lists the State of South Carolina as obligee and benefits anyone damaged by your breach of a construction contract or a contract for labor, materials, or professional services.

The bond must be continuous and stay in effect for as long as you hold the license or until you submit a qualifying financial statement. If it is canceled, you must prove net worth within ten days or the license is suspended. It is not insurance for you — if the surety pays, you repay the surety.

S.C. Code § 40-11-262 (bond in lieu of financial statement)S.C. Code § 40-11-262 lets a contractor file a continuous surety bond in lieu of the financial statement otherwise required to show net worth for the license group, in the same amount as the net worth requirement of § 40-11-260. For general Group 2, the net worth — and therefore the bond — is $60,000. The bond names the State as obligee and benefits anyone damaged by a breach of a construction or labor/materials contract.

You need this bond if you're

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Applying for a Group 2 general license and would rather bond than disclose financials

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Renewing a Group 2 general license and keeping the bond-in-lieu option in place

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A newer company that meets the work scope but prefers not to file a statement

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Replacing a canceled bond to avoid suspension and the 10-day net-worth deadline

One application, issued instantly.

These are the actual underwriting fields, including a one-time consent to a soft credit pull. Submit once and your bond is typically issued within 1–2 business days.

Start the application →

FAQ

Common questions.

Why is the Group 2 general bond $60,000?Because the bond-in-lieu-of-financials must equal the net worth for your license group, and the general Group 2 net worth is $60,000 under § 40-11-260. Premium is $600 flat, set by our carrier's rate book for this bond.

Do I pay the $60,000?No. You pay $600. The $60,000 is the surety's maximum liability to the State and anyone you damage by breaching a construction contract — it is not a deposit, and nobody holds your money.

Is the bond instead of a financial statement?Yes. § 40-11-262 lets you file this bond in lieu of proving net worth with a financial statement. Many contractors prefer it so they do not have to disclose their financials to the Board.

Is there a credit check?Yes — one soft credit pull, which never affects your score. It informs approval, not price: the premium is a fixed $600 either way. Credit can affect whether we approve the bond, never what it costs.

What happens if the bond is canceled?Under § 40-11-262 you must provide proof of net worth for your group within ten days of cancellation, or your license is suspended until you do. We send renewal notices 60 and 30 days out so it never lapses by surprise.

Related bonds

Other South Carolina bonds.

Skip the financial statement.

$600 flat, short application, e-signed bond in 1–2 business days. Free until issued.

Start application

Your price$600

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