Surety bonds are used to protect the public for projects guaranteeing they will be completed or the state of California requires your license to have a bond so you can fulfill the jobs.
There could be small bonds for $15,000 that can cover your license in case a claim is filed against you, the Surety bond will pay to hire another contractor to finish the job. As long as you operate ethically and according to the bond terms, you won’t have to worry about customers filing claims against you.
Bid bonds are also helpful when trying to get a job for a major job. If you win the bid but it’s inaccurate by missing major expenses and prices are out of reach, a claim can be made against the bid bond that you’re responsible to pay. Bid bonds can be small or even in the millions. Give us a call if you qualify for bonding.