As a geothermal well driller in the State of Idaho, the Department of Water Resources mandates that you carry an Idaho Geothermal Well Contractor License Bond in order to obtain a license from the state. There are several occupational and educational requirements that also must be met to become licensed. Please check Statute 42-4001 for more information.
Bonds Express offers an Idaho Geothermal Well Contractor License Bond with a 99% approval rate for amounts up to $20,000. For amounts over this, you will be required to provide a signed application, business and personal indemnity, business and financial statements, and possess a clean credit report to get approved for an Idaho Geothermal Well Contractor License Bond.
You should note that this bond is for one year only and does not renew automatically.
A surety bond protects the party requesting the bond, the Obligee, against any financial losses as a result of poor financial decisions, damages, unethical decisions, or a failure to follow state and local laws on the part of you, the Principal. The Idaho Geothermal Well Contractor License Bond holds you accountable for your business decisions.
By possessing an Idaho Geothermal Well Contractor License Bond, you are telling your Obligee that you can be trusted as a Principal and that you stand behind your business decisions.