This bond is required for individuals who serve as financially responsible officers for certain businesses in Florida, such as auto dealers or repair shops. These officers manage the company's financial operations and customer transactions. The $100,000 bond protects the State of Florida and consumers if the officer h…
Overview
What it is.
This bond is required for individuals who serve as financially responsible officers for certain businesses in Florida, such as auto dealers or repair shops. These officers manage the company's financial operations and customer transactions. The $100,000 bond protects the State of Florida and consumers if the officer h…
Who usually needs it
Individuals designated as Financially Responsible Officers (FRO) for construction contractors operating in Florida must obtain this bond. The FRO assumes financial responsibility for the construction company, has final authority over the company's financial operations, and is typically an owner who is personally liable for the company's actions.
Pricing & timing
What to expect.
Generic pricing
License bonds are required by state and local governments to ensure compliance with industry regulations. Typical Pricing:. • Small bonds (under $25,000): Typically $100–$250 per year (flat fee). • Larger license bonds: Commonly around 1–5% of the bond amount annually. • Credit impact: Good credit: starting around 1–2% · Average credit: typically 2–4% · Credit challenges: often 4–5% or higher. Same-day approval is typical for many common license bonds. Some license bonds may price higher de…
Typical timeframe
Issuance timeframe varies by bond type and underwriting
Application
What to do next.
Tell us the bond name, state, and amount on your form.
Share business and applicant info so the team can quote it.
Sign and pay; we issue the bond and send you the documents.
Keep your effective date and renewal date on file with us.
Start the application.
You are on the exact bond page. The next step is to start the quick application.
StateFLBond amount$100,000ObligeeState of FloridaBond classLicense BondCategoryFinancial ServicesBondFlorida Financially Responsible Officer BondJurisdictionStatePlain descriptionThis bond is required for individuals who serve as financially responsible officers for certain businesses in Florida, such as auto dealers or repair shops. These officers manage the company's financial operations and c…Who needs this bondIndividuals designated as Financially Responsible Officers (FRO) for construction contractors operating in Florida must obtain this bond. The FRO assumes financial responsibility for the construction company, has final …
