Contractors License Bonds

The Applicant must possess acceptable credit and must otherwise qualify for the license sought. At minimum this will be determined by a personal credit report. Should minimum credit not be met, a Cosigner with acceptable credit could be required. If Underwriting indicates unsatisfactory public records, base rate shall apply.

Referral Reasons

• Below average business and/or personal credit
• A discharged bankruptcy within the past 12 months
• A claim against a bond
• Another bonding company declined or previously cancelled a bond
• Derogatory contractors license item(s) within the past four (4) years

Definition and Obligation

Bond guarantees to repay, reimburse and hold harmless any person damaged as a result of the violation of the code. Also covers any person damaged as a result of fraud in the performance of any written construction contract.

Bond Application

The bond application is available prior to issuing the bond. From within the bond submission, once all tabs are completed, navigate to the bottom of the Final Review screen and click the "View Documents" button. You may also use the links provided below:

• Washington Contractor License Bond Application
• Washington Cosigner Application

Bond Issuance

To issue a bond follow the steps below:

1. Once all tabs are completed, navigate to the bottom of the Final Review screen.
2. Click the "Issue the Bond" button.
3. Verify the information.
4. Select payment method.
5. Review the Effective Date.
6. Click the "Purchase the Bond" button.
7. Confirm by clicking the "Purchase the Bond" button once more.
8. Click the "Print Bond Package" button.
9. Click the "Print Invoice" button.
10. Email the signed application to: bondbinds@btisinc.com within 10 days of issuance.

Referral Bonds

If the bond was referred and approved you will receive an "OK to Bind" email containing a link that will allow you back into the bond submission. You can also use the "Review My Bond" button on the submissions page once the status is "OK to Bind". Then follow the steps above in the BOND ISSUANCE section.

Riders

We allow certain riders to be processed and instantly issued online. To process a change rider follow the steps below:

1. Search for the issued bond submission on the submissions page.
2. Click the "Endorse Bond" button.
3. Select the type of rider.
4. Make the needed changes.
5. Click the "Issue Rider" or "Submit to Underwriting" button.
6. If you issued the rider you can use the "Print Rider" button to access the documents. If you submitted the rider request a staff member will review the requested change. If approved, the staff member will email you a copy of the documents.

Notarization

Notarization is only required if a Cosigner has been added.

Washington Forms

The bond application is available prior to issuing the bond. From within the bond submission, once all tabs are completed, navigate to the bottom of the Final Review screen and click the "View Documents" button.

Monthly Payment Plan

The Monthly Payment Plan is available for bonds with premiums of $400.00 or more. The minimum down payment is 20% of the premium. Copies of the actual finance agreement will be available once the account is established with Best Choice Premium Finance Company. The Applicant has 10 days to dis-affirm financing at no additional cost by faxing a written request to the finance company at 818.610.2066. Please note, if financing is cancelled the total premium is due to BTIS.

• ACH Form
  

Full Annual Premium

The Producer may withhold commission and remit net payment in full.