Bảo hiểm & Quyền cầm giữCâu 1530 / 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
Giải thích
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.
Trích dẫn luật: Bus. & Prof. Code §7071.6Luyện miễn phí toàn bộ 1605 câu hỏi — không cần đăng ký.
Câu hỏi liên quan cùng chủ đề
- '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:
Cập nhật gần nhất: · quy trình kiểm tra
Sen Lin, Người sáng lập PrepPass · Đối chiếu với California CSLB Contractor License Law & Business Exam · Quy trình kiểm tra
Người kiểm duyệt Abraham Chen — Licensed California General Contractor (CSLB License #1101856 — kiểm tra)