A promise made by a bond company to pay all or a portion of a CCB fine if a contractor fails to pay the fine in order to protect customers.
A property owner can file a CCB complaint against a contractor for breaking their contract or poor work. If the CCB orders a contractor to pay money to the customer, the contractor must pay as ordered. If the contractor does not do so, the bond company will pay the money owed, up to the amount of the bond.
A Construction Contractors Board surety bond is required for contractors to do work.