As of January 1st, 2012, contractor businesses operating as a Limited Liability Company (LLC) in California are required to post a $100,000 surety bond under California Contractor License Law. This surety bond is commonly referred to as a LLC Employee/Worker Bond, and it guarantees payment to individuals employed by said contractor. Additionally, the bond covers interest on wages, fringe benefits, welfare fund contributions and apprentice program contributions. The contractor must also maintain a $15,000 contractor’s license bond with the Contractor State License Board.
Pacific Surety offers industry low rates and can obtain approvals for almost all credit situations. Once our simple application has been completed, we can have pricing to you within hours. If you have any specific questions, please contact our knowledgeable underwriting staff.