contractor license bond, is a required bond for a construction project. A contractor is required to have construction bonds for nearly all government and public works projects. A contractor...
[7] Bonds may be provided by a surety company which is licensed by the California Department... [8] The CLSB's contractor license classifications are broken down into four categories: A...
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Changes to Bond Requirements Effective January 1, 2023 ; Attention licensed contractors: On January 1, 2023, the contractor license bond, bond of qualifying individual, and disciplinary bond, increased to $25,000 as a result of Senate Bill 607 . See more about SB 607 in these Industry Bulletins from October 2022 and December 2021. Contractors with a license bond on file with CSLB must ensure their contractor bond is increased to the new amount, as follows: (1) If you have a cashier’s check in lieu of a surety bond: Contact *********@****.**.* ...
Bonds · Why You Need a Performance Bond · October 17, 2018 · In the construction industry it is necessary not only to have insurance but you will also need to have certain bonds in place to do business. One of these types of bonds that you should have is a performance bond. Regulations like this have existed for years so no one gives much thought as to why we have them in the first place. If you are trying to get a performance bond and are having trouble you may be wondering why you need a performance bond in the first place. Let’s have a ...
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In the United States, there are no federal licensing requirements to become a general contractor, but most US states require general contractors to obtain a local license to operate. It is...
When it comes to getting the best deal on home construction, one of the best ways to get that is to learn how to do contractor bonds to protect homeowners from unscrupulous contractors. Unfortunate...
LICENSE TYPE, CONTEMPLATED GROSS VOLUME (PER LICENSE), BOND AMOUNT ; Residential General Contractors, Less than $750,000, $9,000 ; Residential General Contractors, $750,000 or more, $15,000 ; Residential Specialty Contractors, Less than $375,000, $4,250