A Nevada Class B General Building contractor wants to bid on a public works project valued at $850,000. What additional bonding capacity must they demonstrate beyond their standard license requirements?
Correct Answer
A) $850,000
For public works projects, contractors must demonstrate bonding capacity equal to 100% of the project value. The contractor must show they can obtain an $850,000 bond for this specific project.
Why This Is the Correct Answer
For public works projects, contractors must demonstrate bonding capacity equal to 100% of the project value. The contractor must show they can obtain an $850,000 bond for this specific project.
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