All About California Contractor Bonds

Why Contractors are Required to Carry a Bond in California

Contractor bond is a common term in the law field. In legal terms, it means an agreement that involves three parties namely principal, obligee, and a surety.

Talking of the Principal, he or she is the contractor who seeks the bond for his construction business.

The obligee is the organization that imposes the bond that is required by the contractor while the surety company guarantees the obligations of the principal and the obligee.

In case of any claim, the insurance company, which is the surety, in this case, will pay the claim amount which will be later reimbursed by the contractor, who is the principal.

According to www.contractorbond.org/, it is to state law for every licensed contractor in California to carry a bond.

This contractor bond helps the contractor or the principal to carry out his or her business within the jurisdiction of that business community where he or she legally operates.

Whereas the performance bond is used to ensure that the Californian contractor does not breach the terms of the contract, the contractor bond provides the California contractor lives up with the required Californian state laws.

The primary reason why contractors are required to carry a bond in California is to make sure that the consumers or the contractor’s employees who may be financially affected by the work or the activities of the contractor are adequately compensated.

In the event a contractor does not follow the regulations set forth by the CSLB, they may also be required to purchase a disciplinary bond as well.

The contractor bonds in California, unlike insurance, are fully reimbursed. That means, when an insurance company (Surety) pays the amount of the bond and the related legal costs to the affected party, all those costs will trickle down to the contractor (Principal) who will refund the insurance company the entire paid amount.

Hence this is a significant blow to the contractor’s business.

What does it mean to be a bonded contractor in California?

When you acquire a contractor bond in California, which is a legal requirement, you will be free to conduct your construction business in California.

Secondly, the contractor bond acts as a protection element between the principal and the obligee. Thus, when a claim is made against the contractor bond, the principal will be entirely liable to the amount of the valid claim made.

As a contractor, when a bond claim is filed against you, it will not only cost you financially but also your business’s image or reputation.

Factors that Affect the Cost of Californian Contractor Bond

The value of a contractor bond in California depends majorly on the number of premiums to be paid and rating factors like the license history of the principal.

If the credit of the principal or contractor is right, the contract bond will be relatively cheaper and vice versa.

Also, if the license history of the principal is free from defaults such as previous bond claims, bankruptcy among others, obtaining a contractor bond will be quite easy.

Steps Involved in Obtaining a Contractor Bond in California

After the insurance company (Surety) finds out that you are worth the credibility of receiving a contractor bond, the surety will get your business rolling through the following steps.

Application of the contractor bond

• Submission of the contractor bond

• Receipt of your signed copy of the Contractor bond

There are requirements that you must meet to get a contractor bond especially here in California.

It is essential to check out with the CSLB’s headquarters or any suitable legal firm before applying for one as a Californian contractor.

Top Four Fun Things to Do with Jet Skis

jetski

Riding on your favorite jet ski can offer an unconditional fun and enjoyment. Irrespective of whether you are a vetted rider or an amateur, jet ski rentals will allow you to showcase your incredible acrobatic stunts. However, most of the rides often use a jet ski to zooming around with a high speed or making sudden turns & jumps that may prove to be quite boring and repetitive. Luckily for you, a jet ski allows you to do a ton of fun activities. For your reference, this article will reveal insightful details on top four fun, cool, and exciting things to do with Jet Skis.

Check out these awesome Jet Ski Activities

1. Jet Ski Fishing: Are you a fishing enthusiast? Or, is fishing your favorite pastime option? If yes, then you will be glad to know that you can now transform your jet ski to a perfect fishing boat. In fact, a jet ski can be easily used as a handy and maneuverable fishing boat. Starting from lake fishing to coastal and deep sea fishing, a jet ski can be your ultimate companion when you’re on an outdoor fishing/kayaking trip.

2. Jet Ski Exploring: As mentioned in the previous section, a jet ski is easily maneuverable while in motion. This unique feature makes jet skies quite ideal for exploring. Furthermore, you can even manage the speed of your jet ski. For example, you may opt for a terrific high speed while you are passing through the uninteresting and built up areas. Alternatively, you can turn down the speed to enjoy the exquisite scenic spots or make a pause for capturing photographs.

3. Jet Ski River Races: One of the most exciting things to do with Jet Skis include “Jet Ski River Races.” Racing your Jet Ski on the open sea areas can be an absolute fun. All you will need to gather some of your friends who may be equally excited about Jet Ski Racing. Note, a jet ski river race can prove to be quite thrilling since the riders will need to carefully overcome certain obstacles, such as leaning into the narrow bends of a windy river or zooming along with the trees on the river banks.

4. Jet Ski Water Skiing: If you are quite fanatical about water-skiing, then you can now use your jet ski to enjoy wake-boarding or water skiing. Obviously, a traditional jet ski may not be as fast and speedy as a motorboat or any other conventional marine vessel. But, a jet ski offers a multitude of advantages when it comes to using it for water skiing, such as cheaper to buy, easy to operate, and easy to switch between fresh water and salt water.

The Bottom Line: With this, you have now revealed four fun and cool things to do with a traditional jet ski. Now, follow these tips and get ready to flaunt your flawless jet ski stunts

Use Online Marketing to Standout From Your Competitors

Use Online Marketing to Standout From Your Competitors

Online marketing is growing by leaps and bounds every year. As more and more companies flock to the internet to “stake their claim” it is essential that you utilize these new tools in a way that is both profitable and responsible.
This article will provide six rules you must follow when you create your online marketing plan. The marketing plan will help you stay ahead of your competitors in online business.

1. Integration is key

Creating a whole new plan for your web-based marketing without considering your current efforts can be problematic. Many of your customers may experience your marketing messages in more than one medium, so you need to make sure they coordinate with each other. Don’t treat your online marketing efforts as a separate campaign. Instead, integrate everything you do in one plan.

2. Know your audience and gain permission to talk to them

In the online world, your opportunities are endless. It is critical that you have a well-defined target audience. Spend time analyzing your past marketing efforts to create an ideal customer profile that will help narrow and define who you will be approaching.

Once you have identified your target market, make sure you gain permission to create a conversation with them. The online world is cluttered with spammers who try to connect with you without permission. You need to protect your reputation by having potential customers “opt-in” to a conversation with you.

3. Create performance benchmarks

With new online marketing tools being introduced on a daily basis it is important that you establish and aim for performance benchmarks for your online marketing efforts. It is too easy to get distracted by the “shiny object of the day” which may have no useful value for you to reach your established goals.  Here are some tips on reaching your benchmarks.

4. List the attributes of your online options

When you get to the point of choosing which online marketing strategies to employ, it is important to have a “grading scale” to judge one against another. List the attributes of each online media tool and how it will help you reach your goals. Does your target audience utilize the particular option? Does the brand an culture of your company fit in socially with the option. In other words, will your business be out of place by using a particular online media choice?

5. Detail your implementation schedule

It is very essential that you have an action plan to implement any new online media initiative. Make a schedule that will outline when and how you will use a particular tool. What resources will you need in-house to support that specific tool? Will you need any outside marketing help to implement the strategies you have chosen?

6. Assess profitability of all of your efforts.

No online marketing plan is flawless without a thorough financial analysis of your projected sales as a result of using a particular tool and your associated anticipated expenses. The return on investment of your online marketing efforts is the same as that of traditional media. Without a return on investment, you can quickly accumulate extra marketing expenses which will affect your bottom line.

Take the time to make sure all six of these rules are followed when you create your online marketing plan. The internet is here to stay, and you need to carefully assess how your online marketing plan will harness the power of this new media opportunity.

Small Business Marketing with a Shoestring Budget

Small Business Marketing with a Shoestring Budget

Marketing is perhaps one of the greatest headaches of small business owners. With limited finances and a host of other equally important business needs to pursue, it becomes very difficult to adopt practical marketing strategies for these small businesses. However, it can be done and in this article, we shall discuss some of the best small business marketing strategies with a shoestring budget.

Craft an Elevator Pitch

An elevator pitch is a persuasive sales pitch and experts consider it to be one of the most important marketing strategies for small businesses with shoestring budget.

Be as persuasive as you can and make use of any forum you find yourself in to drive a point home. Whether you are in a convention, a boardroom meeting or simply walking on the streets, always find a way of raising awareness to your brands.

Leverage Your Community

With a small business whose main prospects are locals, it would be unrealistic to think of doing a television commercial as that may probably eat into your entire savings.

Why not leverage your community using some community-based initiatives like sponsoring a league, printing a bookmark and leaving them at the library among other small but highly useful strategies? The goal is to tap into every corner of your community and win their loyalty.

Collaborate

If you are in the business of soft drinks and you have a close associate but in the business of selling toiletries, why not collaborate and cross-promote one another?

One way to do this is promote each other through marketing them to your own prospects. When a mum downtown comes to your shop and orders a soft drink, you could use this opportunity to spread the word to her of a very good shop further down the street that offers superb toiletries.

In addition to word of mouth promotion, you could also use coupons, reciprocal website links, fliers or any other thing that could help you cross-promote one another.

Create a Buzz

This is yet another great way of promoting your small business when you are strained for cash. It involves creating a highly sensational piece on a media outlet or even by use of social media so you can draw attention to your business.

You could do this by initiating a controversial or sensational story or responding to one in such a manner. Once people begin taking an interest in you, they will also what to know what you do and this is where your small business will benefit.

Ask For Referrals

As traditional as this looks, it still never fails to deliver. Asking for referrals involves soliciting for the names and perhaps the contacts of prospective clients.

You can then take advantage of this to visit them at their homes or places of work to promote your products. You may make it easier by calling them or sending them emails intended to make them aware of whatever it is you are offering.