The Florida Construction Industry Licensing Board (FCILB) has two classifications for contractors:
- Division I (General Contractors, Building Contractors or Residential Contractors)
- Division II (all contractor licenses not listed in Division I)
Contractors with a FICO score of less than 660 at the time of the application will be required to post surety bond under Chapter 489, Part I, of the Florida Statues and Chapter 61GA of the Florida Administrative Code. Additionally, contractors cannot have any active liens or judgments against them for the license to be issued. Division I Construction Contractors are required to post a bond for $20,000, while Division II has a $10,000 requirement. Note that the Division II amount can be reduced to $5,000 after completion of a 14 hour financial responsibility course approved by the FCILB. The licensing bond or letter of credit shall be maintained until the applicant has achieved a FICO credit score of 660 or higher.
Counties throughout Florida have specific Contractor License Bond requirements. They typically range in size, from $1,000 – $25,000, with $5,000 being the most common. Please consult with your counties’ licensing board before applying.
Additionally, the Florida Department of Business and Professional Regulation may require contractors to obtain a $100,000 Financially Responsible Officer (FRO) Bond under Rule 61G4-15.0021, Florida Administrative Code. This guarantees the officers keep/maintain accurate financial records for the business.
Pacific Surety is proud to offer a variety of approvals regardless of credit. The process typically takes just a few hours for a quote and we have the ability to beat any competitors pricing. If you have any specific questions feel free to contact our knowledgeable underwriting staff.
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Contractor License Bonds – Florida
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