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How Much Does a California Talent Agency Bond Cost?
Talent agents in California have to post a $50,000 bond. This value is called the bond amount, which is different from your bond premium. The actual price you have to pay is only a fraction of the required bond amount. For talent agency bonds, the percentage is around 1% - 3% for applicants with stable finances. Thus, if you have good finances, your bond premium may be around $500 - $1,500.
Your bond premium is calculated on the basis of your personal credit score, business finances, and assets and liquidity. Your surety may also consider your professional experience. By assessing these factors, it can judge the level of risk involved in bonding you. If your overall profile is solid – particularly your credit score – expect to pay less for your bond.
Surety Bond Cost Based on Credit Score | |||||
---|---|---|---|---|---|
Surety Bond Name | Surety bond amount | Above 700 | Between 600-699 | Below 599 | |
California Talent Agency Bond | $50,000 | $500 - $1,500 | $1,500 - $2,500 | $2,500-$5,000 |
How to Get a Talent Agency Bond in California
1. Submit Your Application
Start bonding by completing our online application form. For us to properly assess the bonding risk, you may need to supply additional details and documents. Rest assured, we will be guiding you through each step, ensuring a smooth and effortless experience.
We recently supported a newly established Talent Agency Bond applicant in California. Despite their expertise in the talent agency industry, they sought guidance on the bond's specifics and its implications on their operations. Recognizing their dedication to excellence, we provided personalized assistance throughout the application process. By streamlining requirements, we enabled smooth compliance with California's regulations, ensuring a seamless start-up and establishing their credibility as a reputable talent agency.
2. Get a Bond Quote
Upon receiving your application, we promptly begin processing it. We strive to find the best rate for you, using our industry knowledge. Following this, we provide a free quote along with expert advice and simple instructions to simplify the bonding process for you.
3. Buy Your Bond
Once your bond premium is paid, you're officially bonded. Your bond will be sent via email, with a paper copy mailed if necessary.
If you have any questions or encounter any difficulties, our surety bonds experts are here to help you – just call us at (877) 514-5146.
Talent Agency Bond Requirements in California
All talent agencies operating in California must obtain a $50,000 California talent agency bond, as mandated by the California Department of Industrial Relations (DIR).
This obligation is based on Labor Code Section 1700.16. It states that if the person bound by this agreement follows the rules in Chapter 4, Part 6, Division 2 of the Labor Code of California, and pays all owed money to individuals or groups, as well as any damages caused by mistakes, lies, fraud, or illegal actions of themselves, their representatives, or employees, then this agreement becomes void. Otherwise, it remains in effect.
Include your completed original Talent Agency bond form (DLSE 306) and a $25 filing fee with your application, along with your additional licensing requirements and mail everything to:
State of California Department of Industrial Relations
Division of Labor Standards Enforcement
Licensing & Registration Unit
P.O. Box 420603
San Francisco, CA 94142-0603
How to Get Your California Talent Agency License
To avoid any delays in obtaining your license, be sure that your application is complete, including supporting documentation as follows:
- Bond (DLSE 306)
- Affidavit of Character (DLSE 301-A, Rev. 9/11)
- Personal Record (DLSE 301-B, Rev. 9/11)
- Premise Certification (Rev. 1/11)
- Sample – Nonexclusive Contract Between Artist and Talent Agency (DLSE 315A, Rev. 09/10)
- Sample - Exclusive Contract Between Artist and Talent Agency (DLSE 315B, Rev. 09/10)
- Sample – Fee Schedule (DLSE 315C)
- Request for Live Scan Service
- Certificate of Workers' Compensation Insurance
- Copy of Driver's License/Photo ID
- Fictitious Business Name Statement (if applicable)
- Articles of Organization (if limited liability company)
- Articles of Incorporation and Statement of Domestic Stock (if corporation)
- Business Tax Registration Certificate (if business is at residence)
Each talent agency is required to pay annual fees upon license issuance or renewal, which must accompany the submitted application. For single location businesses, this includes a $225 license fee and a $25 filing fee, totaling $250. Additionally, an extra $50 is applicable for every branch office the talent agency maintains within California
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Quick response times and turn around for issuing bonds. Great customer service and very knowledgeable. We have used Lance Surety multiple times and have never been disappointed. Highly recommend them and Collette!
Long story short, these guys cut through the B.S. and get the job done. Responsiveness, excellent! Communication, excellent! Respect for their industry partners, excellent! John, Collette, Ryan, you're all-stars! Thank you!
We decided for Lance Surety Bond's quote for 2 reasons; Price and Customer Service. Our Representative Ryan was just SUPERB!! [...] I highly recommend Lance Surety Bond for all your Bonding needs! I'll definitely come back for all of mine. :-) Thanks Ryan!
Quick response times and turn around for issuing bonds. Great customer service and very knowledgeable. We have used Lance Surety multiple times and have never been disappointed. Highly recommend them and Collette!
Long story short, these guys cut through the B.S. and get the job done. Responsiveness, excellent! Communication, excellent! Respect for their industry partners, excellent! John, Collette, Ryan, you're all-stars! Thank you!
We decided for Lance Surety Bond's quote for 2 reasons; Price and Customer Service. Our Representative Ryan was just SUPERB!! [...] I highly recommend Lance Surety Bond for all your Bonding needs! I'll definitely come back for all of mine. :-) Thanks Ryan!