This Electrical Contractor's Bond guarantees that the licensed contractor understands and will stay compliant with any codes, rules, and regulations in place from the City of Saraland, Alabama. In the event that the contractor incurs any damages, liabilities, or losses due to misconduct or negligence, the City of Saraland and the public are protected from any financial responsibilities.
Any Electrical Contractor who plans to work for the City of Saraland, Alabama, is required to file an Electrical Contractor's Bond before they are able to begin the work.
This is a $10,000 surety bond but you do not need to pay the entire amount of the bond. The costs for an Electrical Contractor's Bond are as follows:
1 year - $100
2 years - $175
3 years - $250
Each year is covered for $10,000.
To apply for an Electrical Contractor's Bond for Saraland, Alabama, complete our simple application below. You may also download a PDF of the application, and submit via email to email@example.com, or via fax at (949)-361-9926. If you choose to email or fax your application, please be sure to complete a payment form and attach it along with your application. Once we receive your completed application and payment, you will be issued a bond within 1-3 days.
This bond is required for any contractor or contracting company that plans to perform any work within the City of Saraland, Alabama.
A surety bond is a three-way agreement between a Principal (the individual or company performing the work), the Obligee (City of Saraland), and a surety company (the company backing the bond). A surety bond is a protective bond for the Obligee, in the event that the Principal (or Principals employees and/or agents) fails to comply with all laws, regulations, and guidelines, and causes any liabilities, losses, expenses, or damages as a result of their negligence. If there is a claim filed against the bond, the City is clear of any obligations. By requiring a contractor file a surety bond, the City of Saraland is protecting the Saraland public from their taxes being used to pay for a contractor's financial liabilities.
If you are an electrical contractor and plan to work for the City of Saraland, you will be required to file this $10,000 surety bond. Luckily, you do not need to pay the entire amount of the bond, only a premium (a percentage of the total cost). The costs for an Electrical Contractor's Bond are as follows:
It is important for you, your employees, and agents, to understand and comply with all laws and regulations for Electrical Contractors. In the event that you or anyone under your surety bond violates this agreement, you may have a claim filed against your bond. In the event that there is a bond filed against your bond, your surety company will perform an investigation and determine validity. If the claim is found to be valid, your surety company will pay the damaged party, at which point you will be required to repay your surety the full amount, as well as any associated fees.
Your surety company may revoke your bond at any time, at which point your license and ability to work with the City of Saraland will be invalidated until you are able to file a new bond. Therefore, it is very important that you understand the terms of your bonds, and avoid claims against it at all costs. Claims against any surety bond act as a mark against your "credit," and will affect your ability to get future bonds. If you are unable to obtain a surety bond, you may be unable to perform work that requires a bond.
If you feel that a claim against you is invalid, or is the result of a miscommunication, it is important that you contact your surety agent immediately. Your agent will perform the investigation, and if they determine the claim is invalid, it will have no effect on your business operations, licensure, or bond.
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