What is the minimum amount of the contractor's license bond required by California law for most contractor classifications?
Correct Answer
A) $25,000
Business and Professions Code Section 7071.5 requires contractors to file and maintain a contractor's license bond in the amount of $25,000. This bond protects consumers and ensures compliance with the Contractors' State License Law. The bond amount has been $25,000 since 2005 and applies to most contractor license classifications in California.
Why This Is the Correct Answer
Business and Professions Code Section 7071.5 requires contractors to file and maintain a contractor's license bond in the amount of $25,000. This bond protects consumers and ensures compliance with the Contractors' State License Law. The bond amount has been $25,000 since 2005 and applies to most contractor license classifications in California.
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