Florida Contractor License Surety Bonds

• The majority of Florida Contractor License Surety Bonds do not require any underwriting and can be issued immediately without a credit check. Those surety bonds that do require some underwriting, like the Florida Construction License Bond (Sub-660 Credit Score Bond), will require a review of your personal credit report. 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.
• Most of the contractors license surety bonds required by Florida municipalities carry the same minimum premium regardless of the bond amount. All applicants pay $100 for a 1-term term and $175 for a 2-year term for their bond.

Florida Contractor License Surety Bonds are in place to protect the public, not the contractor. By posting a surety bond, a contractor is guaranteeing they will abide by all laws, rules, and regulations regarding construction work within that city or county. Although every surety bond reads differently, for the most part, they ensure the contractor performs his or her work in compliance with local construction and building codes. If there is any loss or damage due to faulty workmanship or material furnished or used by the Principal within one year after the performance of any such work is completed, then the Principal shall be liable to reconstruct or replace any such damage or loss.

• Florida Contractors License Surety Bonding requirements differ from city to city and county to county. Some municipalities require surety bonds while others don’t. It is important to check with the local government to ensure you are following all rules and regulations, and to ensure you acquire any necessary licenses, permits or surety bonds before conducting any work.
• Hillsborough County is an example of a municipality where a surety bond is required to be posted before providing any type of construction/contracting work. The Hillsborough County Development Services Division requires the surety bond to be posted, although, the Obligee on the bond is the Governor of the State of Florida. This surety bond is called the Hillsborough County Contractor’s Code Compliance Bond.
• Another example of a municipality that requires a surety bond to be posted is Orange County. The surety bond is called the Orange County Performance Bond and is required by the Board of Orange County Commission, therefore, the Obligee on the bond is the Board of Orange County Commission, Orange County, State of Florida.

Most Florida Contractor License Bonds have an expiration date; those that don’t are continued in full force from the effective date until canceled. Bonds can be canceled with written notice from the Surety to the Obligee (county or city requiring the bond) and the Principal (contractor). Most Obligees will require anywhere between 15 days and 90 days notice prior to the cancellation effective date. The bonding company will renew and bill for the bond on an annual or biennial basis depending on the original term.

Contact The ProSure Group. As surety bond experts in business over 23 years in Florida, The ProSure Group has issued thousands of contractor license 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.