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Bonding

CSLC has partnered with JS Platinum that has built a specialty program around the construction industry.

 

Contractor’s License Bond:

 

Who needs to have a Bond?

 

Each Licensed Contractor in California is required to carry a $12,500 bond which acts as a guarantee for consumers that hire the licensed contractor.

 

Bonding is only waived if Contractor puts up the $12,500 with the Contractors State License Board.

 

What is a bond exactly?

 

A Contractor’s Bond ensures that you will always provide ethical and professional services. Unlike insurance, the contractor is responsible for fully reimbursing the bonding company in the event a claim is paid out. The bonding company will pursue the contractor until the surety company is reimbursed for the entire amount of the claim.

 

Why is it based on credit?

 

Since the bonding company is held responsible for fronting money in the event of a claim, the cost for the bond is based on the contractor’s credit history.

 

There are multiple carriers that use different rating factors in calculating the bond premium and have programs for almost any situation:

-         First Time License Bond – ( $116.00 if not licensed or bonded before)

-         Payment Plans

-         Multi-Year Options

-         Accept Co-signers

-         Open Bond Claims

-         Bankruptcies/ Tax Liens

 

 

For questions or concerns regarding your contractors bond, or to get a free quick quote please contact Jenniffer Jerez at 909-987-4520 or via email at Jenniffer@jsplatinum.com

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Contractors State License Center
9155 Archibald Ave. Suite D
Rancho Cucamonga, CA 91730
Phone: 909-373-6050
Email: Info@cslcedu.com