Louisiana Contractor License Bond for Home Service Contractor Providers
This requires home service contract providers to post a financial security deposit in an amount equal to 5% of the gross consideration received on the sale of all service contracts, less any claims paid. This deposit must be not less than $25,000. Cash or a surety bond is also permitted to fulfill this requirement. In liaison with the security deposit the service contract provider may maintain a funded reserve account.
Latest posts by Victor J. Lance, President/Owner (see all)
- The Miller Act: The Costs and Requirements [Full Guide] - April 6, 2020
- [COVID-19] Surety Bond Update: Providing Business Support - March 26, 2020
- Hawaii Contractor License: The Full Guide  - January 23, 2020