Information and Purchase a New Jersey Electrical Contractor Business Permit Bond
A NEW JERSEY ELECTRICAL CONTRACTOR BUSINESS PERMIT LICENSE BOND is needed when a NJ ELECTRICAL CONTRACTOR applies for or renews their NJ ELECTRICAL CONTRACTOR BUSINESS PERMIT. A ONE THOUSAND ($1,000) surety bond (cannot be higher or lower) is required. The cost of the bond from this agency is $50. (FIFTY DOLLARS) per three year term. This bond is required by the NJ Board of Electrical Contractors for all Electrical Contractors holding a BUSINESS PERMIT and it’s intention is to protect the public for lack of performance of a job. Example: If an electrical contractor fails to finish a job and the customer complains to the board, the NJ Board of Electrical Contractors will order that the bonding company pay to the customer up to $1,000 (ONE THOUSAND DOLLARS) to make good. The surety (bonding) company can still go after the electrical contractor to get back their money.
The current bond term is from April 1, 2015 and will expire March 31, 2018. This coordinates with the term of the business permit (three years).
Cost of the bond is $50 for the three year term. If purchased mid-way through the term the cost is still $50. This agency issues more bonds than any other agency in the state. We are quick and efficient! Bonds are processed and mailed within three (3) business days. Bond numbers will NOT be given out over the phone. Please wait for the mail. Bonds cannot be faxed; they must be mailed because of the original seal on it.
Electrical bonds are issued in the name of the business. (NOT license holder individual names)
- Electricians who have just passed the license exam need to purchase a bond and must mail it to the Electrical Board (NJ Division of Consumer Affairs) with the application for the Business Permit
- Electrical Contractors who are renewing the bond will retain the bond in their file for future reference but must insert the bond number, name of bonding company in the online renewal application for the NJ Division of Consumer Affairs.
- Bonds are processed and mailed within three (3) business days by an employee of FRANCHINO INSURANCE, not a computer.
- Within 1 – 2 business days of your submission of the bond we will email you the bond number and appropriate information that you will need to complete your online renewal with the NJ Board of Electrical Contractors.
- Bond numbers will NOT be given out over the phone. Bonds cannot be faxed because they have a seal on it identifying it as original.
- This agency issued a new bond number for every renewal cycle. You cannot use your existing bond number for the online license renewal. Wait for your new bond number.
PURCHASE AN ELECTRICAL CONTRACTOR BOND
- PURCHASE AN ELECTRICAL BOND ONLINE – Pay by credit or debit card – $50
- PURCHASE BY MAIL – Printable application form, mail with a check (.pdf)
We also want to provide liability, commercial auto, workers compensation for your business!
For an exact quote for your business, complete our NJ ELECTRICAL CONTRACTOR BUSINESS SURVEY
For more information go to our MAIN ELECTRICAL CONTRACTOR BUSINESS PAGE