What is Contractor LIcense Bond:
A California contractor license bond is a type of surety bond required for contractors operating in the state of California. It is a financial guarantee that contractors obtain to protect their clients and the public from financial loss or damages resulting from the contractor’s actions.
The California contractor license bond is mandated by the Contractors State License Board (CSLB), which is the regulatory authority overseeing the construction industry in California. It is a prerequisite for obtaining and maintaining a contractor’s license in the state.
The bond serves as a form of insurance for customers and provides financial recourse if the contractor fails to fulfill their contractual obligations, violates any laws or regulations, or engages in fraudulent activities. If a claim is made against the bond, the surety company that issued the bond will investigate the claim and compensate the affected party up to the bond’s coverage limit.
What is the Bond Amount?
The required bond amount varies depending on the type of contractor’s license and the classification of work being performed. Currently, the minimum bond amount for most contractor licenses in California is $25,000, although certain specialized licenses may have higher bond requirements.
Bond is not an Insurance for Contractors:
It’s important to note that a contractor license bond is not the same as liability insurance. Liability insurance provides coverage for accidents, property damage, or bodily injury, while a bond specifically addresses financial losses or damages caused by the contractor’s actions.
The Contractors State License Board (CSLB) protects California consumers by licensing and regulating the state’s construction industry. The bond is filed for the benefit of consumers who may be damaged as a result of defective construction or other license law violations, and for the benefit of employees who have not been paid wages that are due to them.
Get the free no obligation Contractor’s license Board Bond quote in minutes call us today at (562) 916-3214.
Contractor’s License Board Bond Application
We offer many contractor’s License Board Bonds. Once you are bonded, we send the bond information directly to the Contractor’s License Board. If there is a bankruptcy in your record, we can still get you the bond if you provide the following information to us:
Discharge of bankruptcy / Documents showing Bankruptcy is closed. OR
Copy of court approved repayment plan.
Please complete the Contractor’s License Board Bond Application above and either fax: (562) 461-2649 or email it to email@example.com with the following documents if needed.
Contact us for free no obligation quote and for more details (562) 916-3214.
SER Insurance Agency has been providing best rates on Low-Cost Surety Bonds and Low-Cost Fidelity Bonds in California. For Cheap rates on Surety bonds near Anaheim, Artesia, Bellflower, Bell, Bell Gardens, Buena Park, Carson, Compton, Cerritos, Cudahy, Cypress, Downey, Lynwood, Lawndale, Lakewood, Hawaiian Gardens, Hawthorne, Hemet, Garden Grove, Paramount, Pico Rivera, Santa Fe Springs, Santee, South Gate, San Jacinto, Laguna Beach, Laguna Hills, Torrance, San Diego, Long Beach, Signal Hills, Sacramento, San Francisco, Chico, Santa Ana, Los Angeles, Redding, Oakland, San Jose, Bakersfield call us today.