We are a material supplier, and that amount is for a very large order that I just preliened. It is for a commercial job, not any sort of govt. project.
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Sep 9, 2021
If you can show a certain Business & Professions Code violation by the contractor, you can make a claim and possibly recover on the contractor's license bond. As you are not a homeowner, I believe you can only recover $7,500 on a license bond claim, assuming you are successful. Your better option is a mechanic's lien against the property, if you're not paid. Good luck.
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Sep 9, 2021
Thank you for that information. I think I worded my question incorrectly. Doesn't a contractor's Bond and their jobs have to somewhat relate to each other. I mean shouldn't the two amounts be closer to the same amount? Thank you, Pam
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Sep 9, 2021
No, a license bond is for a maximum of 15K, I believe, which the state requires of contractors. You are probably thinking about a payment bond, which bond, when in place, relates to a particular project and the cost of said particular project. If there is a payment bond on the project that we are talking about, you should give notice to the payment bond surety of your claim. You can call me, if you like, to further discuss - 949-356-6464. Thanks, Andrew
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Sep 10, 2021
Thank you for your answer. Just what I needed to know!