Florida Contractors License Surety Bond - Financial Stability
Florida Law requires that all construction contractor licensees and applicants must establish that they are financially stable. The Florida Construction Industry Licensing Board has determined that a contractor is deemed to be a financially stable if the following items are established:
- No unsatisfied liens against the applicant or the company;
- There are no unsatisfied judgments against the contractor or the company;
- Applicant has a 660 FICO derived credit score or higher
If the licensee or applicant does not have a 660 credit score at the time of application, they may establish financial stability by obtaining a Contractors Financial Stability Surety Bond. The amount of the bond depends on the type of license:
- $20,000.00 Financial Stability bond for Division I contractors
- $10,000.00 Financial Stability bond for Division II contractors
*These amounts may be reduced to $10,000 for Division I contractors and $5,000 for Division II contractors by completing a board-approved 14 hour financial responsibility course.
Apply for your Florida Financial Stability bond today to get your free, no obligation quote
Licensees may also be required to establish financial responsibility by posting a $100,000 Bond of Financially Responsible Officer upon application or at renewal if they do not meet the financial requirements as set forth by the Department of Business and Professional Regulation.
Get your Florida Financial Stability bond today!
Follow the link below to apply for your bond and let our expert staff get the bond you need at the lowest possible price!
Need help with your Florida Contractors License Surety Bond of Financial Stablity??
- Call us and let our staff walk you through the process - 800-737-4880
- [EMAIL US] and request one of our staff to call you.