Or. Admin. R. 808-003-0613 - Bond, Letter of Credit or Cash Deposit Amounts

(1) Except as provided in subsection (2) below, a surety bond, letter of credit or cash deposit required under ORS 671.690 must be in one of the following amounts:
(a) $3,000 for an applicant, unless the applicant is described in subsections (b), (c), (d) or (e) of this rule.
(b) $10,000 for an applicant, who not in conjunction with the performance of landscaping work, constructs fences, decks, arbors, patios, landscape edging, driveways, walkways or retaining walls, unless the applicant is made subject to paragraph (c) of this subsection by work on other jobs performed by the applicant.
(c) $10,000 for an applicant who charges more than $10,000, but less than $25,000, for a landscape job.
(d) $15,000 for an applicant who charges $25,000, but less than $50,000 for a landscape job.
(e) $20,000 for an applicant who charges $50,000 or more for a landscape job.
(e) $15,000 for a Probationary All Phase Plus Backflow license phase.
(2) A landscape contracting business may obtain or maintain a bond, letter of credit or cash deposit in an amount that exceeds the amount required under section (1) of this rule if the bond, letter of credit or cash deposit obtained or maintained is in an amount that is equal to an amount required under section (1) of this rule.
(3) A landscape contracting business is subject to a higher bond, letter of credit or cash deposit before the landscape contracting business submits a bid or contract to a customer, whichever occurs first.
(4) A landscape contracting business must increase or file an additional bond, letter of credit or cash deposit when the cost of the landscape project makes the licensee subject to a higher bond, letter of credit or cash deposit.

Notes

Or. Admin. R. 808-003-0613
LCB 7-2009, f. & cert. ef. 10-28-09; LCB 9-2015, f. 12-22-15, cert. ef. 1/1/2016

Stat. Auth.: ORS 670.310 & 671.670

Stats. Implemented: ORS 671.690

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