Seguros y GravámenesPregunta 1530 de 1632
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.Indemnify the contractor against claims made by dissatisfied customers
b.Guarantee that the contractor will complete each project it undertakes
c.Cover bodily injury and property damage arising from the work
d.Give a limited protection to those harmed by the violations
Explicación
The $25,000 bond required by B&P §7071.6 is a suretyship for the benefit of the people listed in §7071.5 — homeowners and property owners damaged by a violation, anyone damaged by a willful violation or fraud, and employees owed wages or fringe benefits. (a) reverses the direction of the protection, and in fact the surety may seek indemnity from the contractor after paying. (b) describes a performance bond, which is project-specific and sized to the contract. (c) describes commercial general liability insurance, which the license bond does not replace.
Referencia Legal: B&P Code §7071.5 / §7071.6Practica las 1632 preguntas gratis — sin registro.
Own the complete CSLB Law & Business guide — PDF + EPUB, $24.99 →
Preguntas relacionadas de este tema
- 'Subrogation' in insurance refers to:
- A waiver of subrogation clause between an owner and a contractor generally means:
- A contractor who records a mechanics lien for an amount it knows is willfully overstated risks:
- Which statement about the CSLB license bond and a project performance bond is TRUE?
- A preliminary notice must be given 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
Equipo 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)