California Fee-Related Talent Service Bond
The financial guarantee you need when providing a talent service!
What is a California Fee-Related Talent Service Bond?
This bond must be filed with the Labor Commissioner of the State of California before any talent service advertises or contracts an artist for work.
The purpose of this bond is to ensure that the talent service will conform to the provisions of the related laws of the State (Division 2, Part 6, Chapter 4.5 of the California Labor Code) as well as the rules and regulations of the Department of Industrial Relations Division of Labor Standards Enforcement.
It will also be conditioned that this bond will indemnify any person who has been harmed by the talent service’s violations. Some of the violations include, but not limited to, the following:
- The talent service fails to provide a written evidence of the supporting facts of the advertised opportunity for an artist audition.
- Charges an artist for an audition.
- Requires an artist to pay a fee for providing any of the following:
- Audition tapes
- Demonstration reels
- Internet Web sites
- Casting or talent brochures
- Other promotional materials
This requirement is in line with Section 1703.3 of the California Labor Code.
How much does a California Fee-Related Talent Service Bond cost?
The bond cost will typically range from 1% to 5% of the bond amount, depending on the talent service’s credit score.
The bond amount is $50,000.
Get your FREE SURETY BOND QUOTE HERE in order to know your bond premium!
How can I get a California Fee-Related Talent Service Bond?
Here’s how to do get bonded:
- APPLY FOR THIS BOND HERE!
- Once we’ve received your application, we will ask you to submit the necessary information needed for the underwriting process. These are the following:
- Your financial capability
- Your business or job performance history
- Your credit score
An expert underwriter will carefully evaluate all three in order to attain the best credit decision possible. To avoid any delay, the information that you should submit should be organized and concise.
- Your surety bond will be issued and sent to you after the indemnity agreement is signed.
How does a California Fee-Related Talent Service Bond work?
A surety bond is a three-party agreement.
Principal – talent service
Obligee – State of California
Surety – the party who will issue the bond
This bond will protect the Obligee against losses if the Principal violates any of his or her contractual obligations. The bond will remain void if the Principal fulfills all the required duties without any violation. If the opposite happens, the Obligee will be eligible to seek compensation for the losses incurred by filing a claim against the bond. The Surety will pay the Obligee once the claim has been validated; however, the Principal must reimburse the Surety soon after.