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Florida Financially Responsible Officer Surety Bond / FRO Bonds

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

  • 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 so the cost can vary and is heavily dependent on the personal credit report of the applicant as well as experience; sometimes, but rarely, personal financials and business financials may be required depending on credit standing. Customers with good credit scores could qualify for rates lower than 1% of the bond amount. Of course, we will always provide you with the lowest rates available on the market. And can typically handle all credit types — from excellent to poor — as such those terms vary.
  • FRO Bonds can be issued at 1% or less of the bond amount (so, $1,000 or less for $100,000 or $500 or less for $50,000 FRO Bonds) for Applicants with great credit scores (generally 680 or higher) that have been in business for at least 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.

The FRO bond does run from the effective date until it is canceled, which can be done with 30 days notice from the bonding company. 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. Typically a Renewal Notice is sent out 90 days prior to the anniversary/renewal date.

Contact The ProSure Group. As surety bond experts in business over 23 years in Florida, The ProSure Group has issued hundreds of FRO 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.

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.
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 Financially Responsible Officer Surety Bond Experts!
Type Bond Obligee Bond Amount
License Florida Financially Responsible Officer (FRO) Surety Bond Florida Construction Industry Licensing Board
$100,000