What must a contractor possess to bid on public projects in Nevada?

To bid on public projects in Nevada, a contractor must possess a valid license along with proof of bonding and insurance. This requirement ensures that contractors are not only qualified to perform the specific work required but are also financially capable of handling the associated risks. Having bonding means that the contractor has a financial backing that can cover potential damages or failures in completing the project, thereby protecting public funds. Additionally, insurance is crucial as it provides liability coverage, safeguarding both the contractor and the public against unforeseen accidents or issues that may arise during the project’s execution.

The other options, while they may sound plausible, do not reflect the legal requirements set forth for bidding on public projects. There is no specific need for a special endorsement from the governor, as the licensing and bonding processes are governed by state regulations and agencies specifically designed to oversee contractor qualifications. Similarly, only holding a valid contractor’s license is insufficient without the necessary bonding and insurance; these elements are crucial to demonstrating complete readiness to undertake public contracts. Lastly, a business plan, while useful for operational strategy, is not a formal requirement for bidding on public projects in Nevada.