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CSLB Reminds Licensees of Contractor’s Bond Increase to $25,000

Saturday, October 01, 2022 12:36 PM | Anonymous

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.

More information about bonds can be found on CSLB’s website.

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