Contractor License Bonds

The Applicant must possess acceptable credit and otherwise qualify for the license sought. At a minimum, this will be determined by a personal credit report. If Underwriting indicates unsatisfactory public records, the Base rate shall apply.

Referral Reasons

• Below-average business and/or personal credit
• A discharged bankruptcy within the past 12 months
• A claim against a bond
• Another bonding company declined or previously canceled a bond
• Derogatory contractor license item(s) within the past four (4) years

Referred Bond Submissions

If the bond was referred and approved, you will receive an "OK to Bind" email containing a link to allow you back into the bond submission. You can also use the "Edit/Finish" button on the submissions page once the status is "OK to Bind." Then, follow the steps in the BOND ISSUANCE section.

Bond Issuance

To issue a bond, follow the steps below:

1. Once all tabs are completed, navigate to the bottom of the Final Review screen
2. Click the "Issue the Bond" button
3. Select the method for sending the application to your client
4. Click the "Purchase the Bond" button
5. Confirm by clicking the "Purchase the Bond" button once more
6. Click the "Print Bond Package" button
7. Click the "Print Invoice" button

Riders

We allow specific riders to be processed and instantly issued online. To process a change rider, follow the steps below:

1. Search for the issued bond submission on the submissions page.
2. Click the "Endorse Bond" button.
3. Select the type of rider.
4. Make the needed changes.
5. Click the "Issue Rider" or "Submit to Underwriting" button.
6. If you issued the rider, use the "Print Rider" button to access the documents. If you submit the rider request, a staff member will review the requested change. If approved, the staff member will email you a copy of the documents.

If applicable, the bond application is available before issuing the bond. From within the bond submission, once all tabs are completed, navigate to the bottom of the Final Review screen and click the "View Documents" button.

Monthly Payment Plan

The Monthly Payment Plan is available for bonds with premiums of $400.00 or more. The minimum down payment is 20% of the premium. Copies of the actual finance agreement will be available once the account is established with Best Choice Premium Finance Company. The Applicant has 10 days to dis-affirm financing at no additional cost by faxing a written request to the finance company at 818.610.2066. Please note, if financing is cancelled the total premium is due to BTIS.

• ACH Form

Full Annual Premium

The Producer may withhold commission and remit net payment in full.