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Bonds may be provided by a surety company which is licensed by the California Department of Insurance and can cost a premium of $250-$2,250 depending on calculated risk for the required $15,000 bond. [8] The CLSB's contractor license classifications are broken down into four categories: A-General Engineering, B-General Building, C-Specialty ...
Use Licensed and Bonded Contractors on Larger Projects. A licensed contractor is much more responsible, for they have much more to lose. Always hire licensed contractors when flipping a house or ...
The bonding process helps weed out irresponsible contractors while the bond itself defrays the government's cost of substitute performance. The subrogation right of the bond surety against the contractor (i.e., the right to sue for indemnification) is a deterrent to non-performance. Bond sureties often require additional security, including ...
[9] [10] Many state and municipal governments similarly require contractors on public works projects to be bonded under so-called "Little Miller Acts." Theoretically, the payment bond under the Miller Act or Little Miller Act stands in place of the government's property, and qualified claimants make claims against that bond similar to how they ...
The California Department of Housing and Community Development (HCD) is a department within the California Business, Consumer Services and Housing Agency that develops housing policy and building codes (i.e. the California Building Standards Code), regulates manufactured homes and mobile home parks, and administers housing finance, economic development and community development programs.
The California Supreme Court ruled Thursday that app-based ride-hailing and delivery services like Uber and Lyft can continue treating their drivers as independent contractors rather than employees.
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