Yes, doug we have the same here in New Jersey, The bond is required for business permit, no bond, no business lic., and the bond holder, is the State of New Jersey.
Here in NJ where, electrical contractors are bonded, we should be able to collect payment in full when the job is completed, however we have some lawmakers here that can't read, so they passed a law that requires inspections before final payment on jobs, and that is a good idea for consumer protection, for the gc's and other non bonded contractors, so i guess we will be included with the non bonded group, until our lawmakers learn how read, the law will remain.
