The NC Contractor’s Licensing Board requires that anyone who agrees to construct or superintend a project for another individual with a total cost of $30,000 or more, must be licensed. All licenses are not equal as some have limitations on the total cost of a single project the licensed contractor can build (see below). There are additional classifications concerning the types of projects: residential, building (residential and commercial), utilities, highway, specialty and unclassified.
- Limited License: Cost up to $500,000.
- Intermediate License: Cost up to $1,000,000.
- Unlimited License: No cost limitation.
The first step to obtain a license is to submit an application. The Board then evaluates the character, competency, financial responsibility (asset requirements also vary with license type) and criminal background of the applicant. Once this phase is satisfied, the applicant must pass the examination and renew their license annually.
For all competent and responsible contractors, licensure is a ”good thing” and provides them one means to differentiate themselves professionally. Bill Futral has an unlimited building license therefore there is no limit to the cost of any residential or commercial project he may build.
