Are there any bond requirements for a contractors license?
Yes. It is your responsibility to file a contractor’s bond or cash deposit with the Registrar in the amount of $7,500 (except for the C-53, Swimming Pool classification, which requires a $10,000 bond or cash deposit). In addition, you must submit a separate Bond of Qualifying Individual or cash deposit in the amount of $7,500 for the Responsible Managing Employee (RME) or the Responsible Managing Officer (RMO). However, the CSLB may grant an exemption from the requirement to file a Bond of Qualifying Individual if the RMO certifies that he or she owns 10 percent or more of the voting stock or equity of the corporation for which he or she is to serve as the qualifying individual.
Yes. It is your responsibility to file a Contractor’s Bond in the amount required for your license classification, and anticipated annual gross volume. The bond may be in the form of a surety bond or a cash bond. Additional information on bonding requirements is provided in the license application packet. Residential contractors are also required to provide a consumer protection bond. This may be in the form of a Surety Bond or cash deposit in the amount of $200,000.00, or payment into the Residential Contractors’ Recovery Fund. The application instructions provide detailed information on this requirement.
