Prior to the issuance of a plumbing contractor license, the applicant shall file with the City of Chicago an indemnification bond in the amount of $20,000.00 or a letter of credit in the same amount, such bond or letter of credit being payable to the City of Chicago, for the use of any persons with whom such applicant shall thereafter contract to do plumbing work, to indemnify any such person for damages sustained on account of the failure of such applicant to perform the plumbing work so contracted for, in accordance with the provisions and requirements of this Code relating to plumbing.
(Added Coun. J. 12-9-92, p. 25465; Amend Coun. J. 1-24-24, p. 8615, § 4)