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California contractors organized as an LLC in California are required to maintain a $100,000 LLC/Employee work bond as a condition for being licensed in addition to a license bond. The bond protects workers of the organization against unpaid wages and or benefits they are owed.
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A $100,000 LLC Bond (or bond equivalent) is required for all contractors in California with a business entity registered as an LLC (Limited Liability Company). The bond benefits a contractor’s employees or workers should the contractor fail to pay wages or benefits owed.
Every individual contractor or contractor qualifying individual working in California needs to file a $25,000 CSLB surety bond to establish or maintain their licensed status. Contractor companies structured as an LLC need a $100,000 CSLB bond to provide additional protection for employees.
Contractors in California are required to have a $25,000 bond in place to be a licensed contractor. The state contractor licensing board (CSLB) runs monthly sting operations and operating without a license can result in fines!
A contractor bond is a financial guarantee that you'll: Follow all California building codes, rules, and regulations when completing projects. Service your customers with proper business ethics. Fulfill all project obligations according to the contract.
California Contractor License Surety Bonds are filed for the benefit of consumers who may be damaged as a result of defective construction or other license violations by the contractor, and for the benefit of employees of the contractor who have not been paid wages that are due to them.
