A general contractor is responsible for the quality of workmanship, safety, legal compliance, and everything that happens on the job site. Failing to hire a contractor with General Liability insurance could potentially cost you everything that you own. If the unexpected happens, you could be sued...
Having contractor insurance is very important so that your clients or customer will not sue or hold you liable for any damages. Hence, your business will be protected with this insurance. Additionally, the majority of the clients prefer hiring a contractor who possesses insurance, and there are ...
License and permit bond:A license and permit bond is typically a compliance or regulatory requirement. These bonds ensure that the contractor, and their employees, will comply with the specified regulations or laws. Learn more:A Contractor's Guide to Construction Bonds ...
The contractor license bond mainly protects three parties such as the contractor, the company or agency who has hired you for this purpose and the state bond issuing agency or service provider. By following this type of bond, you can ensure that you will provide the professional and ethical se...
the construction industry. While some policies are required by the state or for particular kinds of projects, others can be tailored to mitigate specific risks faced by a contractor. Buying insurance may look costly from the outset, but it can quickly pay for itself with just the first claim....
There's no nice way to say this, so let's get to it: Hiring an uninsured contractor could open you up to a world of pain. Here's why: If a contractor or subcontractor is hurt while on your property, thenyoucould be sued for all his lost wages and medical bills. Workers' compensat...
In general, the contractor has a duty not to violate the Contractor License Law, which is a measure for most of the disciplinary action against the license. The bond covers certain violations as per the law. A consumer, employee or supplier can have a claim against it if the contractor vio...
Contractor license bill advances; House approves legislation that would require; registration with state, proof of insuranceJosh Wright Staff writer
Common scenarios where a Contractor’s License Bond may come into play include a contractor abandoning a project before completion, performing substandard work, or failing to adhere to safety regulations. In these instances, the bond provides a means of recourse for the client to seek compensation ...
This is one of the primary conditions you need to meet to keep an active license. They hold these bonds to protect from people being financially harmed because of a contractor’s work. While California’s state retains the right to increase the amount of the bond needed periodically, it stan...