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  • Worker Bond Form 13b 20

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THIS BOND SHALL BE FILED WITH THE REGISTRAR OF CONTRACTORS STATE OF CALIFORNIA CONTRACTORS STATE LICENSE BOARD SURETY CODE LLC Employee/Worker Bond LICENSE NO.

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How Much Do California Surety Bonds Cost? Surety bonds in California typically range in cost from 0.5% to 3.0% of the bond amount or required coverage.

The $100,000 LLC employee/worker bond is required for all contractors in California with a business entity registered as an LLC (Limited Liability Company)....Does Your Credit Matter? Credit Tiers1 Year Bond CostStandard$3,000 to $5,000Challenged$5,000+2 more rows

The bond must be written by a surety company licensed through the California Department of Insurance. The bond must be in the amount of $25,000. The business name and license number on the bond must correspond exactly with the business name and license number on the CSLB's records.

A $5,000 surety bond can cost as little as $100 for applicants with a good credit score, or go as high as $500 for applicants with bad credit. As you can see, premiums for applicants with good credit are no more than 2.5%. Costs can go as high as 10% for applicants with a credit score lower than 600.

Requirements for the Contractor's Bond: The bond must be in the amount of $25,000. The business name and license number on the bond must correspond exactly with the business name and license number on the CSLB's records. The bond must have the signature of the attorney-in-fact for the surety company.

To fill it out correctly, though, you need to understand what's being asked. Name of the principal and surety. ... Amount of the bond. ... Statute or legal requirement. ... Cancellation clause. ... Aggregate liability clause. ... Bond number and effective date. ... Signatures. ... Some bonds can be issued immediately.

LLC employee/worker bonds are a type of three-party license bond agreement whereby the surety carrier provides the CSLB (the obligee) a guarantee that any employed workers of the LLC (the principal) will receive payment for any unpaid compensation or fringe benefits up to $100,000.

The California Business and Professionals code, Section 7071.6. 5 requires that an LLC wishing to receive a license must purchase a $100,000 surety bond in order to protect employees from damage resulting from the LLC's failure to pay wages, interest on wages, or fringe benefits, as well as any other contributions.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232