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STATE OF OREGON STATUTORY PUBLIC WORKS BOND - oregon

STATE OF OREGON STATUTORY PUBLIC WORKS BOND - oregon 2026

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The document is a statutory public works bond issued by the Oregon Department of Transportation, requiring a principal and surety to be bound to the State of Oregon for $30,000. It ensures payment of wage claims ordered by the Oregon Bureau of Labor and Industries (BOLI) for workers on public works projects, in accordance with Oregon laws. The bond remains effective until claims are paid or canceled by the surety with proper notice.

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Click ‘Get Form’ to open it in the editor.
Begin by entering the 'Project Name' and 'Key Number' at the top of the form. These fields are essential for identifying your specific project.
In the 'Surety Bond No.' field, input your bond number. If applicable, include your CCB (Construction Contractors Board) number in the designated space.
Fill in the principal's name and surety corporation details. Ensure that all information is accurate to avoid any issues with processing.
Review the obligations outlined in the bond carefully. This section explains your responsibilities regarding wage claims and compliance with Oregon laws.
Sign and date the document where indicated, ensuring both principal and surety representatives complete their respective sections.
Finally, send the completed bond to the Construction Contractors Board at the provided address for processing.

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What is public works in Oregon?

Public works encompasses construction and other detailed construction-related tasks, including reconstruction, major renovation or painting, among others, subject to the conditions that must be present for a work of improvement to fall within the statutory definition of public works (refer to ORS 279C. 800).

How much does a public works bond cost in Oregon?

How Much Does the Oregon Public Works Bond Cost? Credit ScoreBond Cost (1 year)Bond Cost (1 month) 800+ $450 $45 650 799 $600 $60

What is a public works bond?

A public work bond is a form of surety bond. It can also be called a contract bond, a performance bond, or even a payment bond. The bond is like a form of insurance. It is a legally binding agreement that acts as a guarantee to ensure that you will complete the terms of the construction contract.

What is the statutory public works bond in Oregon?

The Bureau of Labor and Industries (BOLI) requires any business paying prevailing wage on public works projects over $100,000 to hold a $30,000 Public Works Bond in the State of Oregon. The bond is required exclusively to cover unpaid prevailing rate of wage or overtime wages.

What is a peo bond?

A PEO bond ensures that the PEO meets state registration and licensing requirements, acts as collateral for workers compensation policies, and guarantees PEO performance of their contracted employer responsibilities.

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What is the purpose of a public officials bond?

The California Public Official Bond is a type of surety bond required for elected or appointed officials in the state. It serves as a financial guarantee that officials will faithfully perform their duties, manage public funds responsibly, and adhere to legal and ethical standards throughout their term of office.

How much does a $20,000 surety bond cost?

Surety Bond Cost Table Surety Bond AmountYearly Premium Excellent Credit (675 and above)Bad Credit (599 and below) $20,000 $200 - $600 $1,000 - $2,000 $25,000 $250 - $750 $1,250 - $2,500 $30,000 $300 - $900 $1,500 - $3,0007 more rows

How much does a $5000 surety bond cost?

For applicants with good credit, surety bonds usually cost between 1% and 5% of their value. Therefore, for a surety bond of $5,000, an applicant with a strong credit history can expect to pay between $50 and $250.

STATE OF OREGON STATUTORY PUBLIC WORKS BOND - oregon 2026

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