{"id":1203,"date":"2013-06-08T05:09:19","date_gmt":"2013-06-08T05:09:19","guid":{"rendered":"http:\/\/suretyone.com\/blog\/?p=1203"},"modified":"2017-01-03T16:20:33","modified_gmt":"2017-01-03T16:20:33","slug":"florida-contractor-license-bond","status":"publish","type":"post","link":"https:\/\/suretyone.com\/blog\/florida-contractor-license-bond\/","title":{"rendered":"Florida Contractor License Bond"},"content":{"rendered":"

A Florida contractor license bond<\/a><\/strong> is required of a\u00a0construction contractor applicants if \u00a0he or she cannot evidence financially responsibility and financially stability.\u00a0The Construction Industry Licensing Board<\/a> is the division of the Department of Business Regulation that reviews applicants and issues licenses. \u00a0The Board, for the purposes of licensing will assume an applicant\u00a0financially responsible and stable and waive the Florida contractor bond<\/strong> requirement if:<\/p>\n

1.) \u00a0There are no unsatisfied liens against the applicant.<\/p>\n

2.) \u00a0There are no unsatisfied judgments against the applicant.<\/p>\n

3.) \u00a0Applicant has a 660 FICO derived credit score or higher.<\/p>\n

If the three preceding conditions do not exist then a license applicant may BECOME financially responsible and stable by offering a Florida contractor license bond<\/a><\/strong> in a form and in the amount required by the Board for the license class for which he or she is applying. \u00a0As per the Board’s published instructions,\u00a0each applicant must submit a personal credit report and a credit report for the business he or she intends to qualify if any. The credit report must be from a nationally recognized credit reporting agency and indicate that all records have been searched on a federal, state and local level. The credit report must not show any unsatisfied liens or judgments against the applicant or the applicant\u2019s company. The applicant\u2019s personal credit report must also include the applicant\u2019s credit score and must indicate that the credit score is a FICO or Beacon score. \u00a0If an applicant’s credit score is not at least 660, then a Florida contractor license bond<\/strong> will be needed. \u00a0The Board divides construction contractor licenses into two classes called Divisions. \u00a0Each Division covers a specific type of contracting and its appropriate surety bond. \u00a0First Division contractors engage in work defined under Sections (a) through (c) of\u00a0\u00a7489.105<\/a>. \u00a0These licensees are GCs, building contractors and residential contractors. \u00a0This class requires a Florida Division I contractor bond<\/strong> in the amount of $20,000. \u00a0The Second Division consists of specialty contractors defined under Sections (d) through (q) of the same statute. \u00a0These licensees include sheet metal experts, roofers, HVAC, etc. \u00a0This class requires a\u00a0Florida Division II contractor bond<\/strong>\u00a0in the amount of $10,000.<\/p>\n

Because of the difficulty in obtaining surety support and other factors considered by the Board, a contractor can request and be granted a REDUCTION in the amount of bond required under the “660 bond<\/strong>” rule. \u00a0A contractor license applicant may attend a financial responsibility course given \u00a0by and approved training facility. \u00a0Doing so effectively cuts the amount of the Florida contractor bond<\/strong> amount in HALF. \u00a0You may review a list of the approved providers by clicking here<\/a>.<\/p>\n

Florida surety leader<\/strong>,\u00a0Surety One, Inc.<\/a>\u00a0focuses on supporting the bonding needs of the commercial, heavy industrial and construction contracting industries. \u00a0We offer this class of bond to all applicants in every state required. Visit\u00a0SuretyOne.com<\/a>, call\u00a0(787) 333-0222<\/span>\u00a0or\u00a0(800) 373-2804<\/span>, or email\u00a0Underwriting@SuretyOne.com<\/span>\u00a0for an\u00a0Florida contractor license bond<\/strong>\u00a0application or information about any surety need. \u00a0Recu\u00e9rde que tambi\u00e9n asesoramos en SU idioma, as\u00ed que comun\u00edquese con nosotros, SU compa\u00f1\u00eda afianzadora preferida para esta fianza u otras!<\/p>\n","protected":false},"excerpt":{"rendered":"

A Florida contractor license bond is required of a\u00a0construction contractor applicants if \u00a0he or she cannot evidence financially responsibility and financially stability.\u00a0The Construction Industry Licensing Board is the division of the Department of Business Regulation that reviews applicants and issues… Continue Reading →<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[168],"tags":[1500,144,1503,1501,1502],"yoast_head":"\nFlorida Contractor License Bond • Surety One, Inc.<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/suretyone.com\/blog\/florida-contractor-license-bond\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Florida Contractor License Bond • Surety One, Inc.\" \/>\n<meta property=\"og:description\" content=\"A Florida contractor license bond is required of a\u00a0construction contractor applicants if \u00a0he or she cannot evidence financially responsibility and financially stability.\u00a0The Construction Industry Licensing Board is the division of the Department of Business Regulation that reviews applicants and issues... 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