As part of our surety spotlight series, we will be profiling surety’s that commonly write or have written contractors license bonds in California to help contractors have a better understanding of the surety’s they do business with. Today’s spotlight is Contractors Bonding & Insurance Company (CBIC). Contractors Bonding & Insurance Company was founded in […]
The $100,000 LLC bond is required for all contractors in California with a business entity registered as an LLC (Limited Liability Company). In 2010, Senate Bill 392 authorized the Contractors State License Board to issue licenses to LLC’s, which were not obtainable prior to this time.
Congratulations on your journey to becoming a licensed contractor in California! If you’re reading this, there’s a good chance you’ve reached the point in the licensing process where you’ve been assigned your application fee number by the Contractors State License Board and have received a letter indicating you need to show proof of bonding. What’s […]
One of the most common questions contractors have regarding their bond is how to contact the surety that wrote their bond for claims, billing or other purposes.
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 essentially a legally binding contract whereby a contractor agrees to […]
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 of the housing industry just a few years ago, Suretec […]
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.
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.
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 contracts they establish with customers. While illegally contracting in California […]
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 […]