Before a contractor can receive a contractors license in California, the contractor must register with the California Contractors State License Board and pay a Contractor’s License Bond or a cash credit.
In the event of a contractor’s license getting suspended or annulled due to a breach of the Contractors License Law, the contractor must file a disciplinary bond with the CSLB. This has to be to get a contractor’s license restored or reissued or if an individual desires to obtain a fresh license. Disciplinary Bonds can go as high as $15,000, but can be bigger and the bond must be on record with the CSLB for two years minimum, and occasionally for a greater length of time.
All Contractor License Bonds must be implemented by an authorized surety company, in a manner up to the required standard of the CSLB and suitable to the State of California.
License and Permit Bonds are compulsory as a precondition to attaining a license or permit for a specific job, enterprise or occupation.
The state, or some local municipality or regulatory body, can make them mandatory. To comprehend a particular license or permit bond obligation, it is...
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