A license bond is usually same day. A contract bond is underwriting. A California contractor license bond is largely a credit decision, so it can often be issued and e-filed with the CSLB within a day. Bid, performance, and payment bonds are different. The surety is deciding whether you can complete the job, so it reviews financial statements, work in progress, banking and credit lines, and your track record on similar projects. Establishing that relationship takes weeks. Start it before the bid you need it for.
Related FAQs
No. Fidelity is crime coverage for employee theft, which we handle separately.
A bid bond backs your bid, a performance bond backs your completion of the work, and a payment bond backs payment to subs and suppliers.
No. It guarantees your obligation to the obligee. If the surety pays a claim, you are expected to repay it.
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