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Some Virginia Contractors Can Now Post Surety Bonds to Fulfill Licensing Requirements

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  • Blake Mitchell

    I appreciate that this article shares an option other than the minimum net worth requirement, but also why that option can be beneficial, freeing up capital for business use.

    Another benefit of posting the contractor bond is that it can streamline the Virginia contractor licensing process for license candidates. Our instructors have worked with thousands of contractors, preparing them to pass the PSI exams. Many of the new DPOR regulation changes have slowed down the licensing approval process to a turtle’s pace. We’ve worked with students where DPOR has taken three months, six months, or with one student, nearly a year to approve him to sit for a specialty exam due to verifying his financials. We’ve recommended to a number of our students to simplify the process by posting a bond since July 1, 2017. For many of them, we’ve seen the approval process shorten dramatically.

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