The ProSure Group

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

What is a Florida Construction License Bond?

  • This is a surety bond that is required to be posted by construction/contractor applicants that do not meet the minimum 660 FICO credit score 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:
    • 1. Applicant has a 660 FICO-derived credit score or higher    
    • 2. There are no unsatisfied judgments against the applicant or the company he/she intends to qualify
    • 3. There are no unsatisfied liens against the applicant or the company he/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 application, they may post a surety bond to satisfy the requirement. The applicant must, however, also pass the other two financially responsible and stability requirements. The Sub-660 Bond has two different bond amounts, one for each Division License:
    • Florida Division I Contractor License Bond: $20,000 bond
    • Florida Division II Contractor License Bond: $10,000 bond
      • These bond amounts can be halved ($10,000 for the Florida Division I Bond and $5,000 for the Florida Division II Bond) if a board-approved 14-hour financial responsibility course is completed.
  • The Florida Division I Contractor License includes licenses only for General Contractor, Building Contractor, and Residential Contractor.
  • The Florida Division II Contractor License includes licenses for all other types of contractors not included in Division 1, such as: 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.
  • While this surety bond goes by many different names, in reality, they are all the same bond. Technically speaking, this bond is referred to as a Florida Construction License Bond, but may also be called 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 price can vary and is dependent on the credit score of the applicant. Customers with near-660 FICO credit scores may qualify for a rate as low as 1% of the bond amount. Of course, we are equipped to handle all credit types, from excellent to poor – as such, those terms vary.
  • The cost of the Florida Financial Responsibility Bond will also vary depending upon the bond amount and, in some cases, bond form and/or 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 required by the State to protect against non-payment of fines and costs, pursuant to Rule 61G4-15.006 of the Florida Administrative Code. The bond holder guarantees they will follow all laws and regulations set forth 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’s (DBPR) Construction Industry Licensing Board (CILB) will ask required contractors for the bond after several other requirements for licensure have been met and before the license is approved. As mentioned before, 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 Statutes created the CILB and its authority – as such, the Obligee on the bond lists the Florida Construction Industry Licensing Board.    

In short, yes – these bonds are continued in full 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 today!  As Florida surety bond experts in business since 1993, The ProSure Group has written thousands of construction bonds and has partnerships with over 30 different surety companies. This ensures that we get you the best, most competitive pricing and terms available in the marketplace. Just complete this simple application and one of our specialists will contact you quickly!

Other requirements to become licensed in Florida may include, but are not limited to:

  • Completed application on standard application form from the FL DBPR’s CILB
  • Must be at least 18 years of age
  • Pass the state certification exam
  • Provide evidence of adequate, in-force insurance coverage
  • Fingerprints for background check    
  • Payment of applicable fees

It is important to note that 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 (or 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.

Read about related bonds The ProSure Group is happy to offer:

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
License Florida Construction License Surety Bond: Division II Florida Construction Industry Licensing Board