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Florida Financially Responsible Officer Surety Bond (FRO Bonds)

In order to become licensed as a financially responsible officer in Florida, an officer of a construction company must post a financially responsible officer bond (FRO Bond).  The ProSure Group offers a wide range of different license bonds for contractors — including  Florida construction license bonds and contractor license bonds and — as well as construction bonds and contract bonds for each state throughout the U.S. with rates as low as 1 percent of the total bond amount (among the most competitive rates available on the market). Contact us today to apply for a bond with premium financing or to get a no-obligation free price quote.

What is a Florida Financially Responsible Officer Surety Bond (FRO Surety Bond)?

In the majority of cases, a financially responsible officer is either the owner or another type of officer which primarily presides over the financial responsibility of a construction company. In the State of Florida, FROs require licensing to obtain a Florida financially responsible officer bond in order to meet full compliance with state laws. The purpose of the bond is to ensure that the officers who carry the financial responsibility of a construction company adhere to all applicable and required laws. This bond protects both Florida’s licensing entities and the general public from issues, such as non-payment of any due fees and costs. 

It also serves as a guarantee that the FRO will promptly provide all required paperwork to the relevant authorities. As with other types of surety bonds, FRO bonds comprise a three-party contract — the principal is the financial responsibility officer; the obligee is the state authority that provides the license and requires the bond; and the surety is the entity that provides both the bond as well as the financial backing. 

  • A Financially Responsible Officer Bond (FRO Bond) is a $100,000 surety bond ($50,000 for individuals who were registered prior to Feb. 1, 2007) that is required to be posted by an officer of a construction company in order to be licensed as the Financially Responsible Officer for the company. A Financially Responsible Officer is a person that takes on the financial responsibility and is responsible for all financial aspects of the business organization and may not be designated as the Primary Qualifying Agent.
  • The designated financially responsible officer shall furnish:
    • evidence of the financial responsibility
    • credit, and business reputation of either himself or herself, or the business organization he or she desires to qualify, as determined appropriate by the Construction Industry Licensing Board (CILB)
  • The surety bond is needed when the Qualifying Agent (licensed contractor using their license to qualify a business), as named by the construction company’s license, is not also the Financially Responsible Officer. Whenever there is a change in FRO, a new application and surety bond must be filed. Although the individual FRO is named as the Principal of the Surety Bond, the construction company is given responsibilities in the form and executes the surety bond along with the Principal.
  • In other words, the Financially Responsible Officer (FRO) is typically the owner (or majority owner) of the construction company. And the Primary Qualifying Agent is typically the license holder that qualifies the company.
  • We also write:

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  • Financially Responsible Officer Bonds (FRO Bonds) are individually underwritten — as such, the bond price typically varies and depends upon the personal credit report of the applicant as well as experience. In some cases, personal financials and business financials may be required depending on credit standing. For qualified applicants, the standard market rate for a FRO bond in Florida is as little as 1 percent or less of the total bond amount — as low as $1,000 or less for a FRO bond of $100,000, or as low as $500 or less for a FRO bond of $50,000 — for applicants with high credit scores, or a score of 660 or more for companies that have been in business for a minimum of 2 years.

The Financially Responsible Officer Bond (FRO Bond) is required to be posted by the CILB and is needed in order to insure financial obligations that may result from construction work or fines and costs. The surety bond ensures the officers of the company act in compliance with all laws and regulations, have business practices which are conducted in conformity with the rules of the Department of Business and Professional Regulation, and ensure the keeping of records, the making of reports, and the payment of any funds which may be required by the State of Florida Pursuant to Rule 61G4-15.0021, Florida Administrative Code.

The Department of Business and Professional Regulation (DBPR) administers all business licenses. Within the department, the Construction Industry Licensing Board (CILB) and its authority have been created by Florida Statutes Chapter 489. The Obligee on the bond reads as the Florida Construction Industry Licensing Board.

Florida financially responsible officer bonds remain in effect and full force until they are either canceled or violated. The surety may cancel the bond by submitting a notice of cancellation by certified mail to the Executive Director of the Florida Construction Industry Licensing Board (CILB) at least 30 days prior to the effective date of cancellation. However, the bonding company will monitor and continue to renew the bond on an annual basis assuming there are no significant changes in credit or claim activity. A notice of renewal is typically sent out 90 days prior to the surety bond’s anniversary/renewal date.

To become a licensed financially responsible officer in Florida, contact The ProSure Group. Application requirements include, but are not limited to, the following. To find out what you need for FRO licensing in the State of Florida, contact The ProSure Group today.

  • Include the $100,000 surety bond with the completed application
  • Completed state-issued licensing application
  • Pay the $200 application fee
  • Submit electronic fingerprints
  • Provide proof of satisfaction of liens, judgments, and discharge of bankruptcy (if applicable)

What you will need to submit to obtain your license:

  • Completed application form DBPR CILB-8
  • $100,000 Surety Bond, must be included with the submission of the completed application
  • Pay a $200 application fee
  • Electronic fingerprints for background checks
  • If applicable, provide proof of satisfaction of judgements, liens and discharge of any bankruptcy
  • And more.

To become a licensed financially responsible officer in Florida, contact The ProSure Group. Application requirements include, but are not limited to, the following. To find out what you need for FRO licensing in the State of Florida, contact The ProSure Group today.

  • Include the $100,000 surety bond with the completed application
  • Completed state-issued licensing application
  • Pay the $200 application fee
  • Submit electronic fingerprints
  • Provide proof of satisfaction of liens, judgments, and discharge of bankruptcy (if applicable)

Whether you are a first-time applicant for a Florida FRO surety bond or you’re expanding your  construction business to other states and require additional contractor license surety bonds — a different bond is required in each state in which your company practices — The ProSure Group will help you obtain the right bond to meet your state’s requirements. We offer the lowest market rates available, eliminating guessing games about cost, and qualified applicants pay premiums as low as 1 percent. Call us today to get the bond you need.

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Type Bond Obligee Bond Amount
License Florida Financially Responsible Officer (FRO) Surety Bond Florida Construction Industry Licensing Board
$100,000
License Florida Financially Responsible Officer Surety Bond (for individuals registered prior to Feb. 1, 2007) Florida Construction Industry Licensing Board
$50,000