Overview
A surety bond is a guarantee that your business will follow the rules or complete the work it promised. Government agencies, project owners and clients often require one before you can get a license, a permit or a contract.
Bonds work differently from insurance. If a valid claim is paid on your bond, you're expected to repay the bond company. That's why getting the right bond, with the exact wording that's required, matters.
What's covered
- Contractor license bondsRequired by the CSLB to hold a California license
- License & permit bondsRequired by cities, counties and state agencies
- Other surety bondsWhen a contract, agency or court requires one
- Bond renewalsWe keep track so your bond doesn't lapse
Who it's for
Contractors, auto dealers and repair businesses, notaries, and any business that's been told it needs a bond to get or keep a license, permit or contract.
Been asked for a bond? Send us the request or form you received. The exact bond type, amount and wording matter, and we'll make sure it matches.
Why work with Assan Insurance Agency
We've served Los Angeles businesses and property owners since 2000 from our office on Westwood Boulevard. You work directly with the owner, Kamran Lalehpour, in English or Farsi, and we review your coverage every year so it keeps up with your business.
Common questions
What is a surety bond?
A three-party guarantee between your business, the party requiring the bond, and the bond company. It guarantees you'll meet your obligations. If a valid claim is paid, you're expected to repay the bond company.
How much does a bond cost?
Usually a percentage of the bond amount, depending on the type of bond and factors like your credit. Many common license bonds are relatively inexpensive.
How fast can I get a bond?
Many common license and permit bonds can be issued quickly once we have your information. Larger or more specialized bonds take longer.
Do I need a bond for my contractor's license?
Yes. The CSLB requires a contractor license bond to issue and keep an active California contractor's license.