Residential Pool And Spa License Bond For The Protection Of Consumers - 2005
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1NEVADA STATE CONTRACTORS BOARD
9670 GATEWAY DRIVE, SUITE 100, RENO, NEVADA, 89521 (775) 688-1141 FAX (775) 688-1271, INVESTIGATIONS (775) 688-1150
2310 CORPORATE CIRCLE, SUITE 200, HENDERSON, NEVADA, 89074 (702) 486-1100 FAX (702) 486-1190, INVESTIGATIONS (702) 486-1110
RESIDENTIAL POOL AND SPA LICENSE BOND FOR THE PROTECTION OF CONSUMERS
License Bond No.: _______________________
KNOW ALL MEN BY THESE PRESENTS:
That _____________________________________________ , having a principal place of business in the city of _________________
in the State of________, as principal (hereinafter “Principal”), and ______________________________________________________ ,
a corporation licensed to execute surety bonds under the provisions of the Nevada Insurance Code, and whose long-term obligations
are rated “A” or better by a nationally recognized rating agency, as surety (hereinafter “Surety”), are held and firmly bound to the State
of Nevada in the full and just sum of ___________________________________ Dollars ($__________________) for which payment
well and truly to be made, the Principal and Surety bind themselves, their respective heirs, executors, administrators, successors, and
assigns, jointly and severally, firmly by these presents.
THE CONDITIONS OF THIS OBLIGATION ARE SUCH THAT:
Whereas, the principal has applied for or holds a contractor’s license with the Nevada State Contractors Board pursuant to Chapter 624
of Nevada Revised Statutes to perform work concerning residential pools and spas.
NOW, THEREFORE, this bond is made in favor of the State of Nevada solely for the benefit of a consumer who entered into a contract
with a contractor to perform work concerning a residential pool or spa and :
(a) Is damaged by the failure of the contractor to perform the contract or to remove liens filed against the property; or
(b) Is injured by any unlawful act or omission of the contractor in the performance of a contract.
If an action is commenced on this bond, the Surety shall notify the Board of the action within thirty (30) days after; (a) being served with
a complaint and summons; or (b) the action is commenced, whichever occurs first. The total aggregate liability of the Surety for all
claims shall be limited to the face amount of the bond, irrespective of the number of years the bond is in force or the number of claims
filed. The Surety shall have the right to terminate its suretyship under this obligation by serving written notice of its election so to do
upon the State Contractors Board, at its office in Reno, Nevada, by certified mail at least sixty (60) days prior to the date of termination
of suretyship. Thereafter, the Surety shall be discharged from liability hereunder for any default of the Principal occurring after the date
of termination. The liability of the Surety shall be confined to acts, omissions, or defaults of the Principal occurring subsequent to the
effective date hereof.
NO ACTION MAY BE COMMENCED on this bond after the expiration of two (2) years following the commission of the act upon which
the action is based.
IN THE EVENT the Surety shall make any payments hereunder, without awaiting Court action, the bond amount shall be reduced to the
extent of any payment made by the Surety in good faith under the bond, provided the Surety shall notify the Board, in writing, within ten
(10) days of any payments made hereunder.
IN WITNESS WHEREOF, the Principal and said Surety have executed this instrument on the _________ day of_____________,
______, to be effective on the ________ day of _____________________, _________.
By: ___________________________________
By: ____________________________________________________
(
SIGNATURE OF NEVADA AGENT)
(SIGNATURE OF PRINCIPAL)
Surety: _________________________________________________
Agent License No.: __________________
Address: ______________________________
_________________________________________________
(SIGNATURE OF ATTORNEY-IN-FACT)
______________________________
POWER OF ATTORNEY MUST BE ATTACHED
Residential Pool and Spa License Bond for the Protection of Consumers
Revised 8/05
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