What the California Public Official Bond is for
A court or public body usually requires this bond. It guarantees the person named carries out their duties honestly and as the law requires.
The bond amount is set by the agency, utility or fund that asks for it. If the bond holder doesn't meet their obligations, a valid claim is paid up to that amount, and the bond holder repays the surety.
What the price depends on
The starting rate. An underwriter reviews your application and you see the final price before you pay.