Friday, April 23, 2010

How do I get a License Bond?

There are usually several questions contractors have about the process of obtaining a bond. These are some of the commonly asked questions about the License Bond.



Q: What is the Bond for?
A: Contractor Licensing requires either a Bond or Cash Deposit. The Contractors State License Board (CSLB) will discipline a contractor for violations of the Contractors' State License Law (CSLL), such as to pay a vendor for materials or failure to pay wages to employees. However, the CSLB will never pay damages related to such violations.
Q: When do I have to file my license bond?
A: File your License Bond only after you have PASSED your State Exams. We suggest you file the License Bond at the same time you complete your Final Application and Document Filing with the CSLB. The Contractors License Bond must be filed before the Final Documents will be considered complete.
Q: How fast can you file my Bond?
A: CCIS files daily in person at the CSLB returning to the contractor a filed stamped copy for his records.
Q: Will you let me know when it is time to renew?
A: Yes, CCIS will send renewal invoices approximately ninety (90) days in advance of renewal.
Q: Can I get the bond over the phone or fax?
A: No. The original signed application must be received with premium before the bond can be released to the CSLB.
Q: Do I have to give you my Social Security# and Drivers License#?
A: Yes, the bond is a credit relationship between you and the bonding company. Think of the bond as a loan. For $116.00 a year the bonding company puts up the $12,500.00 for you.
Q: Will you run a credit report on me?
A: Yes. However, bonds are issued without regard to credit for new contractors. Upon renewal of the bond a credit report will be pulled & approval for renewal will be based primarily on that report.
Q:How Much does the License Bond Cost?
A: You will have to post your license bond, a $12,500 surety bond required by the Contractors State License Board (CSLB) for all active contractors.
Where can I get my License Bond?
After obtaining your license KIT and filing your State Application you will most likely receive solicitations from other bond agencies; however we have found that over the pass 30 years California Contractors Insurance Services, Inc (CCIS) has maintained their integrity, fair pricing, and excellent service and support.
We suggest California Contractors Insurance Services Inc., (CCIS) for the following reasons.
  1. CCIS has been issuing Contractors State License Bonds for over 30 years.
  2. Bonds for new Contractors are written without regard to your credit for the 1 or 2 year premium rate.
  3. We enclose a CCIS Contractors License Bond Application with our study materials.
  4. License Bonds are issued within 24 hours of receipt of your completed Bond Application and Premium.
  5. CCIS will file all of your final license documents, including your initial license fee with the CSLB.
  6. You will be sent a copy of all documents CCIS files with the CSLB for your records.
  7. CCIS treats all information as private & confidential and shared only with the underwriting bond company.
All of the above Services and Features are included in CCIS low Bond prices.
Contractors License Bond and Final Document Instructions
CALIFORNIA CONTRACTORS Insurances Services Inc.
P.O. BOX 278238, Sacramento, CA 95827-8238
(530) 622-6564   (800) 432-2641    Fax (530) 622-6565
Department of Insurance License No. 0738654
California Contractors Insurance Services Inc. Contractors License Bond Rates are as follows;
1 year Bond = $116
2 year Bond = $195
3 year Bond = $259
* Rates not applicable to C-39 Roofing or C-53 Swimming Pools*
We suggest you choose the 2 year Bond term because; it will come due for renewal at the same time as your State License renewal date, acting as a reminder. If you forget to pay your State License renewal or the Bond renewal the State will suspend your license.

 Here is a link where you can get your bond from California Contractors Insurance Services.

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