California CSLB LLC Employee/Worker Bond
Any construction business that is organized as a limited liability company must file a $100,000 surety bond to protect employees from financial damages. This bond serves as extra protection from harmful actions by an LLC, such as failure to pay wages or interest on wages, or withholding fringe benefits.
The annual premium for this bond varies depending on the principal owner’s credit history and the financial condition of the LLC. Business and personal indemnification are required for the bond.
Cost of CA LLC Employee/Worker Bonds
| Underwriting Status | 1 Year | 2 Years | 3 Years | 5 Years |
|---|---|---|---|---|
| Preferred | $1,000 | $1,750 | $2,500 | $4,000 |
| Standard | $2,000 | $3,500 | $5,000 | $8,000 |
- A signed application, including business and personal indemnity, a credit report, and business and personal financial statements are required.
- Additional underwriting criteria may include a verification of employee counts, average monthly payroll, and annual contract volume.
The Simple Bonding Process
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Sign your contract and pay the premium.
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Receive your surety or fidelity bond.
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