$165 is your GOOD CREDIT PRICE for a California Contractors Bond.
If you are engaged as a licensed Contractor in the State of California, the California Department of Consumer Affairs State License Board requires that contractors execute a California Contractors Bond in the amount of $25,000 to ensure compliance with Sections 7071.6 and 7071.8 of the California Business and Professions Code.
We will need your Contractors License Number or Application Fee Number in order to process the application.
Effective January 1st, 2023, the required bond amount is being increased from $15,000 to $25,000 per the State of California.
A surety bond protects the party requesting the bond, the Obligee, against any financial losses as a result of poor financial decisions, damages, unethical decisions, or a failure to follow state and local laws on the part of you, the Principal. The California Contractors Bond holds you accountable for your business decisions.
By possessing a California Contractors Bond, you are telling your Obligee that you can be trusted as a Principal and that you stand behind your business decisions.