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The document is a Prequalification Submission Guide for highway contractors seeking to work with the Virginia Department of Transportation (VDOT). It outlines the required submissions for both the first and second years of prequalification, including various forms and safety documentation. The guide emphasizes the legal nature of the prequalification application, the importance of accuracy in submissions, and provides instructions for requesting protection of certain information under the Virginia Freedom of Information Act. Additionally, it includes detailed forms for financial statements, project experience, equipment ownership, and affidavits that must be completed by authorized company officers.

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What is the best way to get a surety bond?

Youll need to find an independent insurance broker or agent near you to purchase a surety bond from these insurance companies. The Small Business Administration also guarantees some types of surety bonds. This way, the SBA will reduce the risk for a surety company so that it can offer bonds to more small businesses.

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

Surety Bond Cost Table Surety Bond AmountYearly Premium Excellent Credit (675 and above)Average Credit (600-675) $15,000 Surety Bond $150 - $450 $450 - $750 $20,000 Surety Bond $200 - $600 $600 - $1,000 $25,000 Surety Bond $250 - $750 $750 - $1,2509 more rows

What are the requirements for a construction contract in Virginia?

Virginia construction contract requirements Virginia doesnt have any specific, statutory requirements for construction contracts. Generally, there are always certain provisions that should be included in a contract, such as a price, schedule, the scope of work, etc.

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.

Is the Virginia contractor exam open book?

NOTE: All examinations are open book. You must bring your own references as they are not provided at the test site.

vdot prequalified list

How to virginia prequalification for construction VDOT Prequalification VDOT Prequalification forms VDOT Prequalification list VDOT Prequalification application VDOT forms vdot form c-38 VDOT approved materials list

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How to get a surety bond in Virginia?

Once you pass your test, youre ready to complete the DPOR Board for Contractors License Application. Read through it carefully and make sure you attach all of the necessary documentation, plus your license fee. The state says it takes about 30 days for them to process applications, so hang tight for a month or more.

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