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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:
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.