You are bidding a job that requires a 6% insurance bond based on the total cost of the project. You have calculated the cost of the job in materials and labor to be $93,500.00. How much will your bid be increased due to the bond?

Many states require building contractors to be licensed. To get licensed, you may need to take a business and law exam, as well as a trade exam. The business and law portion will cover such subjects as contracts, estimates, bidding, bonding, accounting, business forms, environmental regulations, safey and quality control. The trade portion of the exam will cover subjects such as plan reading and estimating, site engineering, sitework and excavation, footings and foundations, concrete, masonry, carpentry, metals and safety.