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Florida Construction License Surety Bond (Sub-660 FICO Credit Score Bond) 

What is a Florida Construction License Bond?

  • A Florida Construction License Bond is a surety bond that is required to be posted by construction contractor applicants that do not meet the minimum credit score (660 FICO) requirement for licensure. The State of Florida Construction Industry Licensing Board (CILB) mandates that contractor license applicants must be both financially responsible and financially stable. The Board deems an individual is financially stable and responsible if they meet all of the following items:
    • 1. Applicant has a 660 FICO derived credit score or higher;
    • 2. There are no unsatisfied judgements against the applicant or the company he or she intends to qualify;
    • 3. There are no unsatisfied liens against the applicant or the company he or she intends to qualify.
  • This rule became effective as of February 12, 2008. The Board has determined that if an applicant does not have a credit score of 660 or higher at the time of applying they can then post a surety bond in place of the sub-660 credit score. The applicant must, however, pass the other two financially responsible and stable requirements. The Sub 660 Credit Score Construction License Bond has two different bond amounts, one for each Division License.
    • The Florida Division I Contractor License Bond is a $20,000 bond.
    • The Florida Division II Contractor License Bond is a $10,000 bond.
      • These surety bond amounts can be halved ($10,000 for the Florida Division 1 Contractor License Bond and $5,000 for the Florida Division 2 Contractor License Bond) if a board-approved 14-hour financial responsibility course is completed.
  • The Florida Division 1 Contractor License includes the licenses only for General Contractor, Building Contractor, and Residential Contractor.
  • The Florida Division 2 Contractor License includes the licenses for all other types of contractors not included in Division 1, including: Air Conditioning Contractor, Mechanical Contractor, Plumbing Contractor, Electrical Contractor, Pollutant Storage System Contractor, Spa/Pool Contractor, Roofing Contractor, Sheet Metal Contractor, Solar Contractor, Specialty Contractor, HVAC Contractor, Underground Utility and Excavation Contractor, Precision Tank Tester Contractor, Tank Lining Applicator Contractor, and Limited Non-Renewable Registration Contractor.
  • It is important to know that this surety bond goes by many different names but in reality they are all the same thing. The surety bond is technically called the Florida Construction License Bond, but can also be referred to as a Florida Financial Stability Bond, a Florida Financial Responsibility Bond, a Florida Contractor License Bond, a Sub 660 Credit Score Contractor License Bond, a Florida Division I Contractor License Bond, or a Florida Division II Contractor License Bond.
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  • Florida Financial Stability Bonds are individually underwritten so the cost can vary and is dependent on the credit score of the applicant. Customers with near 660 FICO credit scores could qualify for a rate as low as 1% of the bond amount. Of course, we can typically handle all credit types - from excellent to poor - as such those terms vary.
  • The cost of the Florida Financial Responsibility Bond will vary depending upon the amount and, in some cases, bond form and the degree of stress in the Principal’s (applicant's) credit history. The lower the score on the credit spectrum the higher the bond rate will be.
    • A $20,000 Division I Construction License Bond can be written for as low as $200.
    • A $10,000 Division I Construction License Bond can be written for as low as $100.
    • A $10,000 Division II Construction License Bond can be written for as low as $100.
    • A $5,000 Division II Construction License Bond can be written for as low as $100.

The Sub 660 Credit Score Bond for construction contractors is in place to protect against non-payment of fines and costs pursuant to Rule 61G4-15.006, Florida Administrative Code. The bond holder guarantees they will follow all laws and rules set by the CILB including making all necessary payments to the State of Florida and will keep truthful and accurate records, books, and reports.

The Florida Department of Business and Professional Regulation Construction Industry Licensing Board (DBPR CILB) will ask required contractors for the bond after the many requirements for licensing have been met and before the license is approved. Again, the Florida Financial Responsibility and Stability Bond is only required to be posted by applicants with a sub 660 FICO score. Applicants are granted licenses to conduct business under Florida Statutes, Chapter 455. Chapter 489 of the Florida Statutes created the CILB and its authority. The Obligee on the bond reads as the Florida Construction Industry Licensing Board.

Florida Financial Stability and Responsibility Bonds are continued in force until canceled by the surety or until the licensed contractor can prove to the Board that their FICO score is equal to or greater than 660.

Contact The ProSure Group. As surety bond experts in business since 1993 in Florida, The ProSure Group has written thousands of contractor license bonds and has partnerships with more than 30 different surety companies. This ensures that we get you the best, most competitive pricing and terms available in the marketplace. You just need to complete our simple application and one of our specialists will quickly contact you.

The requirements to be licensed in Florida include:

  • Completed application on standard application Form from FL DBPR CILB
  • At least 18 years of age
  • Documented financial responsibility and financial stability (FICO score, posting of a Surety Bond)
  • Pass state certification exam
  • Provide evidence of adequate insurance coverage in force
  • Fingerprints for background check
  • Payment of applicable fees
  • And more.

In Florida, there are two types of licensure: registration and certification. If you have a registered license you may only practice contracting in that specific county or city, along with any adjoining locales that will accept that registration. If you have a certified license, obtained by completing the Florida Contractor’s Examination, you may work throughout the state.

If you don't see the bond you're looking for give us a call at (800) 480-3883 and speak to one of our many
Florida Construction License Surety Bond Experts!
Type Bond Obligee Bond Amount
License Florida Construction License Surety Bond: Division I Florida Construction Industry Licensing Board
$20,000
License Florida Construction License Surety Bond: Division II Florida Construction Industry Licensing Board
$10,000