613 Licensing of Company Issuing Bond

• Jurisdiction: Arizona

Construction bonds on public projects can only be issued by licensed companies. Individual sureties and ‘surplus lines’ insurance companies are excluded.

Under the 1992 amendments to the Little Miller Act and Uniform Procurement Code, bid bonds, payment bonds, and performance bonds on public construction projects must be executed solely by a surety company holding a certificate of authority to transact surety business...