Financially responsible officer bond cost
The Florida Department of Business and Professional Regulation requires financially responsible officers to post $100,000 surety bonds.
These bonds are subject to underwriting, so the price you’ll pay depends directly on a review of your personal credit report. You’ll need to provide current business financials and a personal financial statement during the application process.
Why this bond
Florida financially responsible officer surety bonds ensure that principals (officers) make the payments due to the State Treasurer, accurately maintain books/records and make reports in accordance with the laws of the State of Florida Business and Professional Regulation.
If the principal fails to conduct business according to these terms, the surety bond protects harmed parties from financial loss up to the full amount of the bond.
Financially responsible officer bond details
Financially responsible officer bonds in Florida remain in full force and effect until canceled or violated. The surety can cancel the bond by sending a notice of cancellation by certified mail to the Executive Director of the Florida Construction Industry Licensing Board in Tallahassee, Florida, 30 days prior to the effective date of cancellation.
The Florida Construction Industry License Board will retain an electronic copy of the bond to be used to make claims against the bond, and the officer should retain a copy of the bond for his or her own records.
Become a financially responsible officer
To become a licensed financially responsible officer in Florida, applicants must do the following:
- Complete the state-issued licensing application
- Pay the $200 application fee
- Post a surety bond
- Provide proof of satisfaction of liens, judgments and discharge of bankruptcy, if applicable
- Submit electronic fingerprints
- And more
Apply for your surety bond
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