June 19, 2012
EL DORADO HILLS, Calif., June 18, 2012 /PRNewswire/ -- CaliforniaContractorBonds.com is excited to announce the launch of its online publication "License Bond News, Notes & Legislation," located at http://www.californiacontractorbonds.com/blog.
The California contractor bond market is constantly changing as a result of many factors including newly proposed legislation, evolving technology advancements, as well as economic fluctuations, just to name a few. The new publication is designed to keep contractors up to date on the latest industry changes, as well as provide a voice for contractors to express their needs and concerns, so that government regulators, sureties, and the general public can better understand the challenges contractors face when operating a construction business in California. The goal of the CCB Blog is to help develop a community dialog where ideas are discussed, that may lead to changes that are beneficial to both contractors and the general public.
The blog will maintain a focus around California contractor license bonds and the hottest issue to date is without question the impact bad credit scores are having on bond rates for many California contractors. Some contractors are seeing license bond renewal rates increase from around $100 per year, to well over $1300 or more in some instances. While official statistics are scarce, reports indicate that increased bonding costs are forcing some contractors out of business altogether.
License bond changes of this magnitude could not have come at a worse time as contractors are already struggling to cope with a sluggish economy with few work opportunities to be found in the California construction arena. With this in mind, look for articles relating to ideas and tips to help reduce contractor license bond costs. The blog will also discuss multiple bonding programs offered by various sureties throughout the state, as well as any changes looming on the horizon.