California 643J Assessment Bond
AmeriPro Surety Bonds | 844-589-9732
California Department of Real Estate
The California 643J assessment bond is a requirement of the California Department of Real Estate. This surety bond keeps those who are required to purchase it in compliance with Section 2972.9 of Chapter 6, Title 10, of the California Code of Regulations, as amended.
As statutorily stated, this surety bond does the following:
- It is a financial guarantee that you will fulfill your obligations as a subdivider and owner of separate interests. The bond is also a financial guarantee of your compliance with RE 643.
Amount of Surety Bond Required
The amount of surety required is 6 months of regular assessments as statutorily required by the subdivisions public report.
Qualifying and the Premium
To qualify for the California 643J assessment bond, a strong and good credit profile are required. An underwriter review to include a credit check is also required. When you call us, we’ll ask you the following:
- Your company name, address, phone number, type of business (LLC, corporation, etc.) and the number of years you’ve been in business.
- Your name, contact information, social security number, and whether or not you are a property owner.
Then, we’ll request the name and contact information of the obligee. The obligee is the entity which is requiring you to obtain the 643J surety bond.
After review by an underwriter, and upon approval of your credit, the approval rate will be 1 ½% of the amount of your surety bond.
Upon payment of the premium, your bond is issued to you immediately and mailed to you by the following business day. Overnight delivery of your bond is available for an additional fee.
Surety Bond Term
The 643j assessement bond is active for one year from the date of issuance. The bond will renew on an annual basis.
AmeriPro Surety Bonds is a surety bonds-only agency which provides real-estate related surety bonds throughout California. We are also a provider 643K subsidy surety bonds and California lost deeds of trust bonds.
Additionally, our agency is an online aggregator of license and permit, court, and probate surety bonds in all 50 states.
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