WebNov 26, 2024 · The California Contractors State License Board (CSLB) requires all licensed contractors or license applicants to obtain a license bond, or bond equivalent, as a condition for being licensed. As outlined in section 7071.6 of the California Business & Professions Code, the bond is for the benefit of a contractor’s customers if they are ... WebThe premium you will pay to purchase a California contractor bond is a small percentage of the required bond amount. While CSLB has established the required bond amount at $15,000, the specific percentage, or premium rate, is determined by the surety on a case-by-case basis. The surety’s primary considerations are your personal credit score ...
Contractor Bonds and General Liability ccisbonds.com
WebAs a result of Senate Bill 607, which was signed into law in 2024, the California contractor's license bond amount will increase to $25,000 on January 1, 2024. In order to comply with the change in law, your bond amount … WebNov 10, 2024 · California requires contractors who have had their license suspended due to disciplinary action to purchase the Contractor’s Disciplinary Bond to reinstate their license. The bond ensures that the public will receive compensation for financial harm if the contractor fails to comply with the licensing regulations. jessica higgins raymond james
California Contractors License Bond Lance Surety Bonds
WebJul 18, 2024 · California’s Little Miller Act only requires a payment bond to be posted for public construction projects valued at more than $25,000. Any subcontractors or suppliers who are unpaid for work or materials furnished to a state or county construction project can bring a claim against the payment bond if it meets the threshold of $25,000. WebJan 1, 2024 · Click the “Get My Quote” button above and we will provide you with the best deal on California contractor bonds available. P.O. Box 276165. Sacramento, CA 95827-6165 (800) 278-0689 Toll-Free (916) … WebA drywaller contractor in California requires a surety bond of at least $15,000. A bond for qualifying individuals is also required if the person performing the job holds less than a 10% share in the company. Purchasing a surety bond is mandatory for all drywall contractors working in the field. jessica higgins photography