According to the press release issued by CSLB on September 30,2022, as of January 1, 2023, the Contractors State License Board (CSLB) will require a $25,000 bond from all contractors.
This increase was first announced by CSLB in December 2021. Senate Bill 607, signed into law in 2021, led to the increase. Bonds for contractor licenses (from $15,000 to $25,000) and qualifying individuals (from $12,500 to $25,000).
CSLB distributed notices on September 28, 2022, instructing surety companies to automatically increase bonds currently on file with CSLB for licenses and qualifying individuals. You should be contacted soon if your bond premium changes if you are a licensed contractor.
If you wish to increase your bond, you can contact your surety company directly to confirm they have returned documentation to CSLB. If you know the name of your surety company,
Your bond agreement itself or your broker can provide the name and contact information of your surety.
Please contact your broker or surety company if you have questions about your bond premium increase.
Sureties will have access to new contractor bonds and bonds of qualifying individuals starting in December 2022.
For information about bonds, visit CSLB’s website.