Effective January 1, 2023, the Contractors State License Board of California (CSLB) will increase a contractor license bond from $15,000 to $25,000 as detailed in Senate Bill 607. The increase applies to the contractor license bond (from $15,000 to $25,000) and the bond of qualifying individual (from $12,500 to $25,000)
To get your Contractor Bond Quote: ClickHere
If you have any Bond questions call Kevin: 530.320.3617.
Copy of the CSLB bulletin below:
September 30, 2022
CSLB Reminds Licensees of Contractor’s Bond Increase to $25,000 Sacramento, CA – The Contractors State License Board (CSLB) is reminding all licensees that the contractor’s bond amount is increasing to $25,000 on January 1, 2023.
CSLB first publicized this increase in December 2021. The increase is the result of Senate Bill 607, which was signed into law in 2021. The increase applies to the contractor license bond (from $15,000 to $25,000) and the bond of qualifying individual (from $12,500 to $25,000). CSLB distributed notices to 203 surety companies on September 28, 2022, with instructions for automatically increasing all licenses’ bonds and bonds of qualifying individuals currently on file with CSLB.
If you are a licensed contractor, your surety company or broker should contact you soon to inform you of any changes to your bond premium.
You can also contact your surety company directly to ensure they have returned documentation to CSLB to increase your bond. If you know the name of your surety company, you can look up their contact information here. The name and contact information of your surety is also on your bond agreement itself or your broker can provide it.
Questions about any increase to your bond premium must be directed to your broker or surety company and not CSLB. Revised contractor bond and bond of qualifying individual forms with the new bond amounts will be available to the sureties in December 2022.
The increase occurred in part due to a license bond study CSLB conducted as required by Business and Professions Code section 7071.6. The study determined that the current $15,000 amount of the contractor bond is not sufficient and an increase may be necessary.
To get your Contractor Bond Quote: ClickHere
If you have any Bond questions call Kevin: 530.320.3617.