Use the classification amount, not the regular license bond

The Board's posted July 2021 form sets the bond at ten times the required net worth. It lists $500,000 for Heavy; Highway, Railroad, Airport; Municipal & Utility; and Building.

It lists $200,000 for Light Building, Mechanical and Electrical, and $50,000 for Specialty. Have the Board identify the applicable requirement if your classification file is unclear; do not treat the catalog title as a determination for multiple classifications.

The Board separately lists its regular $10,000 surety bond. Buying the financial-statement alternative does not replace that or another independently required bond.

Prepare the exact company name and EIN

The form requires the principal company name and EIN to match the IRS registration exactly. Use that identity on the bond rather than only a trade name or the qualifying person's name.

Its execution area includes principal and agent/broker/producer signatures, power-of-attorney or direct-underwriter fields, and attachment fields for power of attorney and the Arkansas insurance license. Have those completed as required by the accepted form before delivery.

Apply online, then mail the signed original

Purchase Now opens Propeller in a new tab. Apply with the classification, required amount and exact company identity; review the issued instrument and all required execution and attachments.

The form directs applicants to mail the completed original to the Board for processing. Do not substitute the checkout receipt or assume the regular $10,000 form's delivery methods apply here.

The Board requires this continuous security to be maintained while the license is held unless an acceptable financial statement is supplied. Do not assume that supplying a statement automatically cancels the issued bond. The surety's cancellation provision calls for at least 60 days' notice to the Board and principal and preserves accrued liability.