California Surety Bond Types

Many types of California businesses are required by state or local law to have surety bonds in place before beginning their businesses. Surety bonds are primarily to protect the business's customers from fraudulent or unethical activities, but some types also benefit the state or local government itself or even other companies that the bonded business may hire as subcontractors to complete a particular job.

California Surety Bond Requirements

California prides itself on consumer protection, and surety bonds are merely one more layer of protection the state provides. Before doing business in the state either from a business owner or a consumer perspective, be sure to check the local and state regulations to ensure that a surety bond is in place if required.

The talent agency bond is another type of bond that is an important part of California business practices. This bond protects clients of the bonded talent agency from fraud or misrepresentation from the agency itself, principally concerning the transfer of funds from the talent's employer to the talent. Just as with many other surety bonds, the talent agency bond ensures that the talent agency will appropriately and honestly handle the transfer of funds between the two parties. The state requires each agency to obtain a $50,000 bond before accepting clients.