Eligibility Requirements for Small Business Contractors

Eligibility Requirements for Small Business Contractors To be eligible for a surety bond guarantee: Your business must be classified as small. The business combined with its affiliates must not exceed the size standard designated for the primary industry of the …

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Frequently Asked Questions

What is a Surety Bond?A surety bond is a written agreement between a Surety Company and the Contractor, or Principal that helps protect the project owner, or Obligee, in the event the Contractor fails to successfully perform the contract. If …

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IN: What Is A Surety Bond?

Dear Valued Customer, A surety bond is a written agreement between a Surety Company and the Contractor, or Principal that helps protect the project owner, or Obligee, in the event the Contractor fails to successfully perform the contract. If the …

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California Requirements for a Contractor’s Bond

Contractor’s Bond A Contractor’s Bond is a requirement for the issuance of an active license, reactivation of a license, and for the maintenance of an actively renewed license (Business and Professions Code Section 7071.6). The bond is filed for the …

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LLC’s in California

In years’ past, the CSLB did not allow LLC’s to hold a license. They now do, but one of the requirements is that the licensee procure a $100,000 Employee/Worker bond. This is in addition to the standard $12,500 license bond …

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