How to virginia prequalification 2025

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  1. Click ‘Get Form’ to open the Virginia Prequalification application in the editor.
  2. Begin by filling out the General Information section. Enter your company’s full legal name, address, and contact details accurately.
  3. Complete the Ownership section by documenting all individuals owning 10% or more of the firm. Ensure you provide their full legal names and ownership percentages.
  4. In the Firm’s Focus Area of Highway Construction section, check all applicable work classes that your firm performs. Limit your selections to ten.
  5. List past construction projects completed in the last three years in the Past Three Years Experience section, detailing project names, locations, and contract prices.
  6. Finally, review all sections for completeness and accuracy before submitting your application through our platform.

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