What Is a South Carolina General Contractor Bond?
A South Carolina General Contractor Bond is a surety bond required by the South Carolina Contractor’s Licensing Board when a general contractor uses a bond to meet the Board’s financial requirement for a license group. It guarantees that you will follow South Carolina contractor licensing law and honor your construction contracts, and it protects the Board and the people or businesses damaged if you breach those contracts or break the law, up to the bond amount for your license group.
Who Needs the Bond?
You need this bond if you are applying for, renewing, or revising the group of a South Carolina general contractor license in Building (limited or unlimited), Highway, Public Utilities, or Specialty and use a surety bond to meet the Board’s financial requirement. Mechanical contractors need a separate bond (odd-year cycle).
Why Is the Bond Required?
This bond protects property owners, subcontractors, and suppliers from losses when a general contractor breaks a construction contract or South Carolina law. It also encourages licensed contractors to follow the state’s contractor licensing laws and promotes accountability in South Carolina’s construction industry.
How Much Does the Bond Cost?
Rates start as low as $350 for a two-year term. Your final premium depends on factors like your personal credit history, business experience, and net worth.
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Bond Amount Per License Group
Your bond amount equals the Board’s net worth requirement for your license group. Each group also has a Board bid or job limit, which is separate from the bond amount.
| License Group # | Bid/Job Amount | Bond Amount |
|---|---|---|
| Group 1 | $100,000 | $20,000 |
| Group 2 | $400,000 | $60,000 |
| Group 3 | $1,000,000 | $150,000 |
| Group 4 | $3,000,000 | $250,000 |
| Group 5 | Unlimited | $350,000 |
How to Get Your Bond
South Carolina General Contractor Bond Renewal Deadline: October 31 of even-numbered years
Want the full requirements, renewal details, and FAQ?
Read our complete guide to the South Carolina General Contractor Bond.
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