Virginia Contractor License Bond$50,000 Bond or Net Worth Alternative

To get a Virginia contractor license: (1) Choose your class -- Class A (unlimited), Class B (up to $10M), or Class C (up to $10K, no bond). (2) Pass both the business exam and trade-specific exam. (3) Meet financial requirements -- either a $50,000 surety bond OR demonstrate net worth ($45,000 for Class A, $15,000 for Class B). (4) Submit your application to DPOR with 3-5 years experience documentation, financial statements, and fees ($390-$535). Processing takes 45-75 days. License valid for 2-year term.

The Virginia $50,000 contractor license bond costs $500-$2,500 annually depending on credit. Excellent credit (750+): $500-$750 (1-1.5%). Good credit (680-749): $750-$1,250 (1.5-2.5%). Fair credit (620-679): $1,250-$2,500 (2.5-5%). Bad credit applicants can still be approved at higher rates. The bond must be issued for two years matching the license term.

Virginia allows contractors to choose between posting a $50,000 surety bond or demonstrating net worth: Class A requires $45,000 net worth, Class B requires $15,000 net worth. The net worth option requires financial statements showing adequate equity. Most contractors find the bond more practical since it costs only $500-$2,500/year versus tying up $15,000-$45,000 in documented equity. For a full explanation of how bonds differ from insurance, see our guide at /bond-vs-insurance/.

Virginia contractor bond claims are capped at $20,000 for any single transaction, with an aggregate liability not exceeding $50,000 (the full bond amount). This means the surety's total exposure is limited even though the bond face amount is $50,000. Claims must be filed through DPOR.

The Virginia Department of Professional and Occupational Regulation (DPOR) oversees contractor licensing under Virginia Code Title 54.1, Chapter 11. DPOR processes applications, verifies financial qualifications, administers exams through PSI, and maintains license compliance. The Board for Contractors meets regularly to review licensing matters. DPOR is located at 9960 Mayland Drive, Richmond, VA 23233.

Yes. Northern Virginia is one of the nation's largest federal contracting markets with the Pentagon, CIA, FBI, Fort Belvoir, and numerous government agencies. Federal projects require additional performance and payment bonds (per the Miller Act for projects over $150,000), security clearances, and compliance with Federal Acquisition Regulations -- all beyond your state license bond.

Virginia requires both a business exam and a trade-specific exam, administered through PSI testing. The business exam covers Virginia contractor law, contract requirements, and business practices. The trade exam tests technical competency in your specific classification. Class A requires 5 years of experience; Class B requires 3 years.

No. The $50,000 DPOR bond protects consumers -- if a claim is paid, you reimburse the surety. Insurance protects you from third-party damage claims. Virginia requires both for Class A and B licenses. The bond costs $500-$2,500/year while GL insurance typically costs $1,500-$5,000+/year. See our detailed comparison at /bond-vs-insurance/.

Use our free calculator at /tools/calculator/contractor-license-bond/ to get an instant estimate based on your credit score. The $50,000 Virginia bond typically costs $500-$750/year with excellent credit (750+), $750-$1,250 with good credit (680-749), and $1,250-$2,500 with fair credit. For the full breakdown of how surety companies price bonds, read our guide at /surety-bond-cost/.