BONDING & INSURANCE
WHAT IS A SURETY BOND?
A three-party agreement whereby one party called
is bound with the person bonded, called the principal, to a
third party...commonly called the obligee or owner.
The State of
a license, a bond or cash deposit must be filed with the
Contractor's License Board. This bond or deposit must remain
in force for 5 consecutive years and must be in the amount
fixed by the board with reference to the contractor's financial
and professional responsibility and the magnitude of his operations,
not to be less than $1000.00 or more than $500,000.(NRS 624.270)
TYPES OF BONDS:
· Bid/Performance/Payment (Contract Bonds)
· Contractors License
· Motor Vehicle Dealer
· Wage & Welfare
· Offsite Improvement
· Court Bonds
· Release of Lien
· Janitorial Service/Business Service
· Notary/Notary E&O
· Fidelity Bonds ....AND THE LIST GOES ON....
Complete Contractor Services recommended Agents are able to provide license bonding for any individual, no matter of personal credit history.
WHAT TYPE OF INSURANCE WE CAN DISCUSS WITH YOUR RECOMMENDED AGENTS?
General Liability and Workers Compensation for Contractors.
We are here to make sure you are
placed with a qualified Bonding and Insurance Specialist and one that will
meet your specific needs. Also to help you better understand how Surety Bonds
and what your specific needs of Insurance may be. Complete Contractor
Services is here for our clients. If you have any further questions, feel
free to contact Kathleen Huddleson, CISR, CPIW, at the e-mail below or by
Complete Contractor Services