The Construction Connection - California Contractor News, Notes & Legislation

Jeremy Schaedler

About Jeremy Schaedler

Shortly after graduating from the University of California, Los Angeles with a bachelors degree in economics, Jeremy founded Surety First Insurance Services (formerly Schaedler Insurance), a Northern California based insurance agency specializing in surety bonds for California construction professionals. Jeremy is happily married and the proud father of two young boys. In his free time, he enjoys camping, fishing and shooting the breeze with friends and family.

What Is A Contractors License Bond Indemnity Agreement?

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Any contractor that has purchased a contractors license bond in California has signed an indemnity agreement as part of the bonding process, but how many have taken the time to carefully read what it entails? While often misunderstood, a California contractors license bond indemnity agreement is […]

By |September 29th, 2013|Blog|Comments Off on What Is A Contractors License Bond Indemnity Agreement?

Suretec California Contractor License Bonds

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In just a few years, Suretec has emerged as one of the top providers of California contractor license bonds in the state by providing highly competitive rates and great service. While many surety’s have abandoned the contractors license bond arena in California following the collapse […]

By |February 21st, 2013|Blog|Comments Off on Suretec California Contractor License Bonds

How Does A New California Contractor Become Bonded?

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For many aspiring contractors still navigating the licensing process, becoming bonded to satisfy CSLB guidelines can seem like a confusing process as its likely the first surety bond they’ve ever had to purchase. […]

By |January 23rd, 2013|Blog|Comments Off on How Does A New California Contractor Become Bonded?

Who Benefits From A California Contractors License Bond?

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Many contractors will be surprised to learn that a California contractors license bond is not for their own benefit, rather, it’s to protect their customers and employees from a contractor’s harmful actions such as faulty workmanship or unpaid wages. […]

By |January 10th, 2013|Blog|Comments Off on Who Benefits From A California Contractors License Bond?

What Are The Penalties For Contracting Without A License In California?

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Contractors entertaining the idea of illegally operating without a license in California should think twice as it’s perhaps the worst occupational decision one can make for several reasons. In addition to stiff criminal & financial penalties, unlicensed contractors also have no legal right to enforce […]

By |December 16th, 2012|Blog|Comments Off on What Are The Penalties For Contracting Without A License In California?

How Long Is A California Contractors License Bond Valid?

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A contractor’s license bond can be valid for as little as one year or as many as five years depending on the surety. California contractors with good credit usually have an opportunity to purchase a license bond with a term of several years, while those with poor or marginal credit generally are not offered bond terms greater than one year.  It’s important to note that whether a bond has a term of one year or several years, all contractors must re-qualify for a new bond when their current bond expires.  When this occurs, contractors often experience large premium fluctuations both up and down as compared to their prior bond due to changes in their credit profile or other rating factors.   This raises the question as to when it’s most advantageous for a contractor to purchase a bond for a single year, or opt for a multi-year option if available.  Below is a short summary of the pros and cons of each option.

 
When to Purchase a License Bond for Multiple Years?
 
Pros
 

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By |November 30th, 2012|Blog|Comments Off on How Long Is A California Contractors License Bond Valid?