Seguros y GravámenesPregunta 1530 de 1605
Separate from project insurance, the CSLB requires every active licensed contractor to maintain a 'contractor's bond' (contractor license bond). Its main purpose is to:
a.Guarantee the contractor's profit
b.Pay the contractor's employees' wages during slow seasons
c.Insure the contractor's tools
d.Provide limited protection to consumers and others harmed by the contractor's violations of the licensing law
Explicación
The contractor's license bond required under Business & Professions Code §7071.6 (currently $25,000) protects consumers, employees, and others from certain damages caused by the contractor's violation of the Contractors State License Law. It is a suretyship, not insurance for the contractor.
Referencia Legal: Bus. & Prof. Code §7071.6Practica las 1605 preguntas gratis — sin registro.
Preguntas relacionadas de este tema
- 'Subrogation' in insurance refers to:
- A 'waiver of subrogation' clause between an owner and contractor generally means:
- A contractor who records a mechanics lien for an amount it knows is willfully overstated risks:
- Which of the following is TRUE about the difference between the CSLB contractor's license bond and a project performance bond?
- A preliminary notice in California must be served by which method to be effective?
- A subcontractor's certificate of insurance names the general contractor as 'certificate holder.' Being a certificate holder means the general contractor:
Última revisión: · proceso editorial
Sen Lin, Fundador de PrepPass · Verificado con California CSLB Contractor License Law & Business Exam · Cómo revisamos
Revisado por Abraham Chen — Licensed California General Contractor (CSLB License #1101856 — verificar)