Alaska Contractors must amend their license Surety Bonds. Effective January 1, 2015, Senate Bill 193 increases the required construction contractor bonding amounts for General Contractors, Residential Contractors and Mechanical/Specialty Contractors. To avoid fines and license non-renewal, Contractors must post documentation (a bond) to satisfy the new requirements BEFORE January 1, 2015.
The new Alaska Contractors License Bond amount for General Contractors will now be $25,000.
Alaska General Contractors who ONLY perform residential work will post a $20,000 Contractor Bond.
Those licensed ONLY as Mechanical Contractor, Specialty Contractor, or Home Inspector are required to post a $10,000 Contractor Bond.
A $5,000 Alaska Contractors License Bond is sufficient for those whose work on one project with contract price of $10,000 or less, including all labor, materials, and other items, when the work is not part of a larger or major operation or otherwise divided into smaller contracts to evade a higher bonding requirement.
You may find more information at the Alaska Contractors Licensing Board, or see the notice here. Once your new bond amount is confirmed, submit your application here for a secure, no-cost, no-hassle quote today!