What is the bond requirement for an unlimited North Carolina general contractor license?
Correct Answer
D) $50,000
NC unlimited general contractor licenses require a $50,000 bond under NC General Statutes Chapter 87.
Why This Is the Correct Answer
NC GS Chapter 87 and the NC Licensing Board for General Contractors require a $50,000 surety bond for contractors holding an unlimited license classification. The unlimited classification allows contractors to bid on projects of any dollar amount, and the higher bond requirement reflects the greater financial exposure.
Why the Other Options Are Wrong
Option A: $20,000
$20,000 is not a bond amount specified for any NC general contractor license tier. It may be confused with bond requirements in other states or with smaller specialty license categories.
Option B: $25,000
$25,000 is the bond requirement for the intermediate license classification in NC (projects between $500,000 and $1,000,000), not the unlimited classification.
Option C: $15,000
$15,000 is the bond requirement for the limited license classification in NC (projects up to $500,000), the lowest tier. Confusing this with the unlimited tier is a common error.
Memory Technique
NC bond tiers scale up: Limited = $15K, Intermediate = $25K, Unlimited = $50K. Think of it as doubling up: Limited to Intermediate roughly doubles ($15K → $25K), then Intermediate to Unlimited doubles again ($25K → $50K).
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A contractor performs work on a residential property in North Carolina but is not paid. The work was completed on March 15th, and the last material was delivered on March 20th. What is the deadline to file a claim of lien?
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