If you are engaged as a Non-Resident Contractor operating in Louisiana, you are required under the Louisiana Revised Statutes section 47:306(D) et. seq. to file an Louisiana Non-Resident Contractor Tax Individual Project Bond as a condition of licensure if you will be working on a single project.
A surety bond protects the party requesting the bond, the Obligee, against any financial losses as a result of poor financial decisions, damages, unethical decisions, or a failure to follow state and local laws on the part of you, the Principal. The Louisiana Non-Resident Contractor Tax Individual Project Bond holds you accountable for your business decisions.
By possessing a Louisiana Non-Resident Contractor Tax Individual Project Bond, you are telling your Obligee that you can be trusted as a Principal and that you stand behind your business decisions.