California Dry Cleaning Plant Bond
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What is a California Dry Cleaning Plant Bond?
Dry cleaning plants are required to submit this bond along with other registration requirements to the State of California Bureau of Electronic & Appliance Repair, Home Furnishing and Thermal Insulation.
The purpose of this surety bond is to ensure that the dry cleaning plant named on the bond will comply with the relevant ordinances, rules, regulations, and statutes.
Also, if the dry cleaning plant breaches any of the bond’s conditions, the person who has been harmed will be eligible to file a bond claim to recover the amount lost. The client of the dry cleaning plant, for example, will be eligible to file a claim if his or her clothing has been damaged or if the dry cleaning plant committed a fraudulent act.
How does a California Dry Cleaning Plant Bond work?
This bond is a legally binding agreement among these three parties:
- Principal – dry cleaning plant
- Obligee – State of California
- Surety – the party who will issue the bond
Once the Principal has entered into this agreement, the Principal will be obligated to fulfill all the conditions of the bond. The conditions are based on the relevant laws of the state as well as the rules set forth by the State of California Bureau of Electronic & Appliance Repair, Home Furnishing, and Thermal Insulation.
If a violation is committed by the Principal, the person who has been harmed by this violation may be eligible to file a claim. A claimant can only recover an amount up to $250 even if the bond amount is $5,000.
Before a claim is settled by the Surety, the Surety will first conduct an investigation. The Surety will check if the Principal has indeed committed a violation and if the violation is covered by the bond. If it is, the Surety will pay the claim. The Principal must reimburse the payment the Surety has made.
How much does a California Dry Cleaning Plant Bond cost?
The bond cost is $100.
The bond cost will depend on the dry cleaning plant’s credit score.
GET YOUR FREE SURETY BOND QUOTE TODAY!
How can I get a California Dry Cleaning Plant Bond?
APPLY FOR THIS DRY CLEANING PLANT BOND HERE!
One of our expert surety bond agents will guide you through the entire process – from the time you have applied until the bond is issued to you.
Next, you will be asked to submit a few important information that our underwriter requires to assess the following:
- Your job or business history
- Your credit score
- Your financial strength
To avoid any delays, make sure that you have gathered the right information needed before submitting your application.
After the indemnity agreement is signed, the bond will be issued and sent to you!
Ready to apply? START HERE!
