Contractors in Oregon who are working on public works projects with a total project cost of more than $100,000, or that are required to pay prevailing wages on a project, must file an Oregon Public Works Bond with the Oregon Construction Contractors Board (CCB).
What is an Oregon Public Works Bond?
An Oregon Public Works Bond (also called a BOLI Bond - Bureau of Labor and Industries Bond) is a type of surety bond that guarantees you will pay your workers a fair wage while working on a government funded project.
- You are not required to pay prevailing wages (more info here)
- In cases of emergency as declared under the OR Revised Statutes (more info here)
- If you qualify for an exemption for up to 4 years as disadvantaged, minority, woman, service-disabled veteran, or emerging small business.*
How Does an Oregon BOLI Bond Work?
An Oregon BOLI Bond is a safeguard for your workers. When you get the bond, you are promising your workers and the state of Oregon that you will pay fair wage while working on a government funded project. Unlikely other performance bonds, the Public Works/BOLI Bond remains continuous and covers all projects during the duration of the bond.
If you fail to pay fail wages during any of the projects, your workers or the state of Oregon can make a claim on your bond.
How Much Does an Oregon BOLI Bond Cost?
Oregon has set the Oregon BOLI Bond amount at $30,000. This is just the bond amount.
To get an Oregon BOLI Bond, contact a surety company like Surety Solutions. We've issued BOLI Bonds for all types of customers. Your purchase can be made entirely online. If you live locally in Oregon, you are welcome to the pick the bond up from our office, or we will ship it to you for free.
We are located less than 4 miles from the Oregon CCB. Let us show you how getting bonded can be easy.
For more information on the bond, please visit the Oregon Public Works Bond information page.