What is the purpose of California Bond of Qualifying Individual?
A “qualifying individual” is someone, usually an employee, whose responsibilities include a certain amount of expertise or specific skills common in the contractor industry. This $12,500 California Bond of Qualifying Individual is required for those with a license qualified by a Responsible Managing Employees and Responsible Managing Offers in the industry who does not own at least 10% of the voting stock of the corporation.
Are there any additional requirements for a contractor’s license?
- Payment of $330 for an original application and $200 for the initial license fee for one classification. Any additional classification will require a fee of $150
- Contractor bond of $15,000
- Worker’s compensation insurance coverage
- Fingerprints and criminal background check
- Must pass written law and trade exams
- Must have at least 4 years of journey-level experience
How do I obtain a California Bond of Qualifying Individual?
Complete our easy to navigate online application. Within one business day, one of our licensed agents will contact you with a no-obligation quote for your bond (the “premium”). Once any necessary paperwork is signed and the premium payment is processed, your surety bond will be shipped to you via USPS Priority Mail (overnight shipping options also available).
The surety bond experts at Surety Solutions Insurance Services, Inc. (Surety1) are here to help you get bonded quickly and reliably. We work with over a dozen “A” rated surety markets to ensure we find you the lowest rate for your bond. We are also licensed in all 50 states and maintain an A+ rating by the Better Business Bureau.