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Most states in this country require professionals to obtain a contractor's license bond, and California is no exception. Although it is only one type of surety bond which is common to the construction industry, the contractor's license bond has a great deal of importance, because it offers a certain level of protection to a project owner that the contractor in charge of a specific job, or who is in charge of managing some number of subcontractors, will complete any work agreed to in a professio

Getting cleaning business insurance and bonding couldn't be any easier. All you need is to send us the following information: Name of your cleaning business The amount you want to be bonded for Number of employees that work for the business State you are headquartered in Many people dream of starting their own cleaning service but don't understand everything that's needed to start a business. It takes more than just a few customers and cleaning supplies to properly start your business. There

Maintaining a competitive edge in today's construction industry means partnering with the right construction bonding company. Choosing the wrong company for your needs can cost you time, money, and your professional reputation. When shopping around for bond pricing, ensure you partner with a surety producer representing a construction bonding company that is right for your business. While a great price does not necessarily mean you are getting a bad deal, it could be reflective of the company's

What is a Surety Bond Claim? You may have heard of the term corporate bond, but it is a very different concept from a corporate surety bond. A corporate bond is a type of bond issued by a corporation or business to raise capital for a number of reasons. M&A, business expansion, and adding to the general operating capital for the organization are just a few of the main reasons. So, what is a 'corporate surety bond'? In short, it's another word for 'surety bond.' Some people just happen to ad

If you aren't aware of what a CTEC bond is, it is a bond specific to the state of California and is a state requirement imposed on professional tax preparers. The acronym itself stands for California Tax Education Council since this is the agency that requires professionals to obtain a $5,000 surety bond for the purpose of conducting business operations related to tax preparation within state borders. The amount of the bond itself is $5,000, but that is not the cost to a business person wh

If you are a plumber or gas fitting contractor that conducts business in the District of Columbia, there is a very important deadline approaching. The surety bond renewal date for all DC Plumbing and Gas Fitting contractors or designated masters is March 31 of even-numbered years. The license bond amount is $5,000 with a two-year annual premium of $175. Who Needs to Obtain a Bond? DC Plumber and gas fitting contractors often are required to get licensed or registered with district or city

You've probably heard these two terms used together many times, and in fact, the two are used so often together, that many people are probably unclear about the difference between bonded and insured. Both provide forms of financial compensation in the event that a claim is made against one or the other. In the case of a surety bond, the claim would be made against a surety company, which is a financial organization issuing the bond, and in the case of an insurance policy, the claim is made agai

Getting licensed means that an individual or their business has passed the minimum requirements in their field to obtain a license from the state in which they do business. Bonding means that the business may have something called a surety bond that will help protect the individual or their business if a claim should be filed against them. If the claim turns out to be legitimate and the company cannot pay the sum of money due, the bond will kick in and cover the claim. Most bonds that

Becoming bonded is a very important first step for most business owners because it's a feature of your business that makes you appealing to potential customers, and gives them a good reason to choose you over a competitor. The fact that your entity is bonded gives clients a certain amount of confidence that you will live up to the terms of the bond and therefore represents an assurance of reliability. Another driver that forces you to think about how to become bonded is the fact that the licens