Oregon CCB Raises Contractor Bond Limit Requirements

The passing of House Bill 2922 in the Oregon Legislature means that the Oregon Construction Contractors Board (CCB) will be increasing all surety bond limits for contractors going into the new year, effective January 1, 2024.

What Are the New Oregon Contractor Bond Limits?

Each license type will see a $5,000 increase to the current Contractor Bond limit, as follows:

New Oregon Residential Contractor Bond Limits
Residential General Contractor: $25,000
Residential Specialty Contractor: $20,000
Residential Limited Contractor: $15,000
Residential Developer: $15,000
Home Services Contractor: $15,000
Residential Locksmith Services Contractor: $15,000
Home Inspector Services Contractor: $15,000
Home Performance Score Contractor: $15,000

New Oregon Commercial Contractor Bond Limits
Commercial General Contractor Level 1: $80,000
Commercial General Contractor Level 2: $25,000
Commercial Specialty Contractor Level 1: $55,000
Commercial Specialty Contractor Level 2: $25,000
Commercial Developer: $25,000

Reason for Increase

Inflation has caused construction costs to rise, and therefore the bond limit is being increased to compensate for it. Consumers must be able to recover damages caused by the contractor in an appropriate amount. That being said, contractors will only see a minimal increase in their bond prices since they are paying a small percentage of the bond limit.

Other Important Information

Jet has sent out information regarding this increase to any Oregon contractor bonded with us. If you have any questions, give us a call at 855-296-2663. 

If you are interested in switching to Jet as your surety provider, click the link below to get an instant quote!

For more information on this bond, including starting rates, visit Jet’s Oregon Contractor License Bond page.