Schools providing training for individuals wanting to become licensed contractors in Oregon are regulated by the Construction Contractors Board (CCB). The CCB requires pre-licensure training providers to carry a $10,000 surety bond guaranteeing their students receive the education they paid for.
With Jet, you will never worry about maintaining this bond with our $10 a month bond rate. There will never be a pesky bond renewal to worry about that can jeopardize your agreement with the CCB to meet their requirements and get students past the test.
$10 a month is the cost of the $10,000 contractor school bond in Oregon. Jet values the partnership we have with educational organizations and understands what it took to get your school running, which is why you do not need to complete a lengthy application or undergo an intrusive underwriting process.
Some people prefer to pay for the bond term in annual sums and as expressed in the chart above is possible with Jet. However, we feel the monthly rate is the way to go, thus avoiding the stress over whether your bond is active years from now. Other carriers and their agents or brokers will not offer a locked in monthly rate for the life of the school as Jet does.
You bet! Jet will file the signed and sealed bond with the Construction Contractors Board. Other carriers, or their agents and brokers, may charge you to send the bond to the CCB.
Jet will send you a copy of the bond for your records following the purchase of the bond. The original bond form is sent to the following location:
State of Oregon: Construction Contractors Board
P.O. Box 14140
Salem, OR 97309
The CCB is charged with the safety and laws surrounding the construction industry in Oregon. Consequently, the board established a standard of training for contractor schools to abide by and schools must meet the requirements to be allowed to train contractors. Tests are developed by the CCB to ensure Oregon contractors meet the necessary requirements of their trade.
Schools are granted permission to teach contractors if they meet several requirements. Currently, there are a couple dozen organizations allowed to educate contractors. It is at the discretion of the CCB, if you are allowed to open a school.
While the goal for all schools is to get their students to pass the test, the school should never cheat to meet that goal. If a school acquires or attempts to obtain CCB test questions without authorization they face a revocation of their agreement.
The CCB has ever-changing requirements for all contractor pre-licensure training providers as the construction industry and methods continue to evolve. With such a large undertaking the CCB left it to the surety industry to guarantee students, who paid for an education, have a recourse should they not receive any education. The surety bond provides financial restitution to the student should the school not reimburse the student. The surety acts as a third party guaranteeing payment.
Simply refund any student who does not receive an education from your organization, but submitted payment to do so. The CCB can file a claim against the bond for the affected students. In that case you can make payment directly to the Contractors Board to avoid a claim on the bond.
Contractor schools should first provide the claim and any related information directly to Jet as quickly as possible. Jet’s claims department works hard to weed out frivolous accusations and assist the school in their defense.
Should the claim be valid, Jet will pay the student or CCB. Unlike a business insurance policy, which protects the Contractor School from unforeseen accidents, this surety bond protects the students should they pay for training and not receive any. The school is ultimately responsible for their own actions and therefore must reimburse the surety company for any claims paid. Think of the surety as providing you a letter of credit that you need to demonstrate to CCB that it’s safe to license you to operate a school to the public. It is not Jet’s intention to seek reimbursement on bond claims, but to limit our exposure through proper education and representation of Contractor Schools.
The CCB does not dictate the timeline or process of a bond claim, so Jet abides by the regulations set forth by the State of Oregon:
Yes, with Jet this is not a problem. If you purchase an annual term bond, Jet will send back any unearned premium. Many agents and brokers will hold onto minimum earned premium amounts and charge cancellation, reinstatement, or other fees.
If paying monthly, just let us know you are cancelling the bond and we will stop the payment process immediately. The bond will remain in force with the CCB for another 30 days before it is no longer in effect.
Jet will notify you of a missed monthly payment or renewal at the end of an annual term giving you necessary time to make payment. Jet will additionally send notice a month prior to the cancellation taking effect with the CCB.
It is as simple as entering your business information and making payment on the bond. Other carriers and the agents will ask for personal information only to get back to you after hours, if not days. Jet’s process is done in minutes, you will never have to wait.
With the monthly payment option you will never have to! The bond form is continuous which means the bond remains in place until Jet files cancellation with the CCB. As long as the low monthly payment is made the bond stays active. Should there be an issue with the payment method, Jet will contact you immediately to get it right. With the CCB there is a 30-day cancellation notice provision giving the school a window to make payment and keep the bond active.
For schools who prefer to pay annually, Jet will send an invoice via mail and email so you will not forget to handle this important licensing requirement. The renewal process is simplified to the point where it will only take a minute to pay online. Upon payment you will receive confirmation and an updated form immediately.
Nope, but their students do. Any bonding requirement an Oregon contractor needs can be done with Jet. All trainees will be required to have a bond to receive their license. Same as the school bond, Jet is the only company offering a monthly rate saving first time licensees precious capital to start their business.