According to the Bureau of Labor Statistics, employment opportunities in the construction industry are beginning to pick up. As recently as July, the unemployment rate for the hard hit construction industry dropped from 14.5% in April, to 12.3% in July, while average hourly wages increased from $25.76 to $25.78 over the same period. While the […]
According to contractors we have spoken with regarding license bond requirements, the guidelines pertaining to a Bond of Qualifying Individual (BQI) are certainly one of the more confusing topics. While many contractors will not require a BQI, those that do should carefully plan how their license is qualified, particularly if the parties to a license have credit […]
Many contractors in California receiving their bond renewal for the first time in years may be shocked to see how much it has increased. The cause? Often times, though not always, it’s poor credit. In maintaining sound underwriting guidelines, many sureties are drawing a hard line on license bond pricing for contractors with poor credit, with some seeing […]
If you’re like many contractors, you’ve probably thought about marketing your business online, but haven’t taken the plunge as of yet for a variety of reasons. If you find yourself on the fence, this beginner’s guide will help make the experience less daunting and much more rewarding. Many contractors choose not to venture into online marketing because […]
Beginning with Amtrust’s acquisition of Builders & Tradesmen Insurance Services in 2011, speculation has grown in the industry as to whether or not Amtrust would throw their hat into the California contractor license bond arena. As of last week, the rumors have become reality and the full details of the program have been released along […]
Contractor’s looking to start a new construction business in California, or change legal entity’s for an existing one should becomes familiar with how these changes may affect their license bonding costs, as well as other requirements they may become subject to, prior to proceeding. While a contractor’s choice of legal structure will require a single […]
As a condition for maintaining an active contractor’s license in California, all contractors must file a $15,000 license bond with the Contractors State License Board and this amount has generally increased over time to keep pace with inflation. An exception to this rule allows contractors to post $15,000 cash with the CSLB in lieu of a […]
As many contractors have witnessed firsthand, several core expenses related to construction have been on the rise in recent years. While fluctuating expenses are nothing new to most contractors, the combination of high business costs along with few work opportunities is placing a serious crunch on the finances of many small contractors, and threatening any […]
If you’re like many contractors searching for an affordable license bond, you’re probably wondering what the new GETMYCLB bond program from Suretec is, as well as what their role is in providing license bonds for California contractors. Hopefully this sheds some light on GETMYCLB and their place in the California contractor license bond marketplace. […]
The prolonged downturn in the California construction industry over the past few years has strained the finances of many contractors, some of which must now overcome bad credit, among other hurdles in securing affordable license bonding. Contractors license bond rates in California are generally based on many factors including license and credit history, with each […]