Bondability means a surety (a bonding company) would be willing to write you a performance bond above a set dollar amount. In North Carolina, Intermediate and Unlimited electrical contractors prove it with a Statement of Bonding Ability when they first apply for a license.
What is a Statement of Bonding Ability?
It's a signed form from a surety company saying you would be eligible for a performance bond above a set amount. It is not a bond. It doesn't cover any job or customer, and no one can make a claim against it.
North Carolina requires one when you first apply for an Intermediate or Unlimited electrical contracting license. Limited licenses don't need one.
- Intermediate: a statement showing you could be bonded for more than $60,000 (the Board's instructions say $60,001).
- Unlimited: a statement showing you could be bonded for more than $150,000 (the Board's instructions say $150,001).
Sureties typically charge a one-time fee of about $120 for the Intermediate statement and about $300 for the Unlimited statement. You don't renew it each year.
The surety signs off on this question:
Subject to your normally expected individual job underwriting procedures and your right not to exceed this applicant’s line of bonding credit, does your company feel that this applicant would be eligible on this date for a bond in excess of {$60,000 for Intermediate or $150,000 for Unlimited}? Note: This is strictly a bonding ability statement as of the date shown above and in no way commits your company to the issuance of a bond of any type to this applicant.
The Board's instructions read:
- Unlimited (U) Classification Applications: Applicants wishing to obtain an Unlimited license shall furnish a $150,001.00 Unlimited Bonding Ability Statement with Power of Attorney attached; OR a letter showing a line of credit issued by a bank, savings bank, or savings and loan association pursuant to G.S. 87-43.2(a)(4).
- Intermediate (I) Classification Applications: Applicants wishing to obtain an Intermediate license shall furnish a $60,001.00 Intermediate Bonding Ability Statement with Power of Attorney attached; OR a letter showing a line of credit issued by a bank, savings bank, or savings and loan association pursuant to G.S. 87-43.2(a)(4).
The financial information on the statement must be in the same name as the license you're applying for.
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When do I need a bondability statement?
After you pass your exam, when you file your license application with the NC Board. The statement must list your legal name and address, the surety company's name and address, and the type of financial statement the surety required. It must be signed by a representative of the bonding company, and the signing agent's Power of Attorney must be attached. For the rest of the Unlimited paperwork, see the NC Unlimited requirements.
Where do I get one?
These bonding companies regularly handle this form for North Carolina electrical contractors:
- Jet Insurance Company: jetsurety.com, (855) 296-2663
- Bond Exchange: bondexchange.com, support@bondexchange.com, (800) 438-1162
- Lance Surety Bonds: lancesuretybonds.com, (877) 514-5146
Tell them you need a North Carolina electrical Statement of Bonding Ability for your license classification. Some will ask you to fill out a short financial questionnaire first. Your own insurance agent may also be able to help.
How is this different from a surety bond?
A surety bond is an actual guarantee, usually bought for a specific job, that you'll finish the work as promised. If you don't, the project owner can make a claim, and the surety (the bonding company) pays up to the bond amount. You then owe the surety that money back. The Statement of Bonding Ability only says a surety would be willing to write that kind of bond for you. It isn't a bond itself.
Bondability FAQ
What does bondability mean?
Bondability means a surety would be willing to write you a bond above a set amount: $60,000 for Intermediate or $150,000 for Unlimited in NC. A Statement of Bonding Ability puts that in writing for the NC Board, but it is not a bond itself.
What counts as proof of bonding ability for an NC electrical license?
A Statement of Bonding Ability signed for the bonding company, with the agent's Power of Attorney attached. Or a bank letter showing a line of credit of at least $60,001 (Intermediate) or $150,001 (Unlimited).
How much does a bondability statement cost?
Sureties typically charge a one-time fee of about $120 for the Intermediate statement and about $300 for the Unlimited statement.
Does an NC Limited license need a bondability statement?
No. Only Intermediate and Unlimited applicants need one.
More North Carolina guides
- NC electrical license guide
- How to become an electrician in NC
- NC electrical exam
- NC electrical exam pass rate
- NC Limited vs Intermediate vs Unlimited
- NC Limited electrical license
- NC Unlimited electrical license
- NC SP-SFD license
- NC low voltage license (SP-FA/LV)
- NC electrical license reciprocity
- NC electrician CE requirements
- NC electrical CE online
- NC license lookup and CE hours check
Licensed in more than one state? JCR License Management tracks your licenses, renewals, CE, and licensing documents. Learn about License Management or call (704) 696-8555.
JCR checked the $60,001 and $150,001 amounts, the surety question and the bank-letter option against NCBEEC's bonding ability forms, its 2026 license applications and G.S. 87-43.2 on October 21, 2026.