California Surety Bond
California legally requires a variety of individuals, contractors, and organizations to secure surety bonds to conduct business across the public service industry. Apply for a California Surety Bond today! Absolute Surety is a leading California bonding company providing bonds with a convenient online application system. Browse the most common types of bonds in this state, or contact us for a full list.
Authorized notary publics operating in the California area must secure the proper bond amount to serve those living in the state of California. Absolute Surety's bond experts can help you receive the lowest quote and secured bond by the end of the next business day
Entities seeking a wholesale pharmaceutical license in California must secure the appropriate bond prior to submitting an application with the state's pharmaceutical board. Contact our bond experts for low cost rates delivered within 24 hours.
Entities or individuals appealing a decision or award by the California Labor Commissioner can secure the correct surety bond with one of Absolute Surety's bond experts quickly and safely. Read more to get started online today.
Owners of motor vehicles and manufactured homes in the State of California that are deemed unfit for ownership are required to to secure a lost or defective title bond. Start the application process online and receive the lowest quote within 24hours.
More Info About California Surety Bonds
The most commonly required surety bonds in California are:
- License bonds for contractors and other licensed professionals and businesses
- Contractor bonds for contractors bidding or working on publicly funded construction projects
- Court bonds required by the court for a variety of purposes
California License & Permit Bonds
Many professional individuals and companies must obtain a license or permit to do business in the state of California. This includes contractors, auto dealers, credit services organizations, employment agencies, janitorial services, and more. (While auctioneers are not required to be licensed by the state, they are required to maintain a $20,000 bond with California’s Secretary of State.)
California Contractor Bonds For Public Projects
Contractor license bonds are the most common license bond in California and are a prerequisite for obtaining a license from California’s Contractors License Board. In addition to contractor license bonds, there are several other types of contractor bonds that are important in California, including bid bonds, performance bonds, and payment bonds.
In California, most of these are required by municipalities rather than by the state. They guarantee that a contractor will abide by all applicable rules and regulations and protect against the loss of taxpayers’ money in the event that the contractor does not live up to the terms of the contract.
California Court Bonds
California courts may require a court bond for individuals serving as a minor’s legal guardian, managing the money of a person who has been declared incompetent, acting as executor of an estate, appealing a court’s decision, and other reasons. Some court bonds guarantee that people with fiduciary responsibilities carry out their duties honestly and ethically. Others ensure that plaintiffs or defendants pay whatever damages, fines, court costs, or legal fees the court holds them responsible for.
How Do California Surety Bonds Work?
The party required to obtain a bond (the principal) pays a premium to a surety bond company (the surety). The party requiring the bond (the obligee) can file a claim against the bond if the principal does not act in accordance with the terms of the bond. If the claim is upheld, the surety pays the obligee and then works to recover the money from the principal.
How Much Does A Surety Bond Cost?
The principal pays a premium that is a specific percentage of the total bond amount. The obligee determines that total bond amount, and the surety determines the percentage (typically 1% – 15%) based on an assessment of the principal’s creditworthiness and other factors. The greater the risk to the surety, the higher the percentage.
Ask for a quote today on the California bond you need.