* A license is required when the total cost or contract amount is $25,000 or more.
Monetary limits for each license as follows:
* 10 times working capital OR 10 times net worth – whichever is LESS
* If the requested monetary limit is $1,500,000 or less, a reviewed financial statement is required.
* If the requested monetary limit is greater than $1,500,000, an audited financial statement is required.
* A license is not granted solely on meeting one requirement. All requirements must be met (exams, financials, experience, etc) and all information submitted is considered