Ashton Agency has a 99% approval rate and offers the Florida contractor bond for one, two, or three year terms. Contractors are only required to file a $1,000 or $5,000 surety bond if they have a FICO score of 660 or lower and have completed a board-approved financial responsibility course.
Who needs a contractor bond?
The Florida Department of Business & Professional Regulation requires contractors to obtain a surety bond if they do not have a 660 FICO score or higher.
The bond amount varies depending on the type of contractor license sought:
Division I Contractors: $20,000
Division II Contractors: $10,000
These amounts may be reduced to $10,000 for Division I and $5,000 for Division II if the 14-hour financial responsibility course is completed.
What is the contractor bond?
The contractor bond protects the party requesting the surety bond, the Obligee, against any financial losses as a result of poor financial choices, damages, unethical decisions, or a failure to adhere to state and local laws on the part of you, the Principal. By obtaining your contractor bond, you are telling the Obligee that you can be trusted and that you stand by your business decisions. The bond is filed for the benefit of consumers who may suffer damages as a result of defective construction or other license law violations, and for the benefit of employees who have not been paid wages that are due to them.
What else do I need besides the bond?
The Florida Construction Industry Licensing Board requires all licensed contractors to obtain public liability and property damage insurance in the amounts determined by the Board. Workers' compensation coverage is also required as stipulated under Chapter 440 of the Florida Statutes.
Ashton Agency can write your liability coverage too. Contact us today at (800) 452-2663 for a free, no-obligation quote on both your bond and insurance! We can write your bond for up to one year. Let us save you money!
Not sure what else you might need to get licensed or renewed? Check out the requirements here!
The Florida contractor bond is also known as: Florida commercial contractor bond, general contractor bond, financial responsibility contractor bond.
I have everything I need. What now?
Contractors will submit the original signed bond form to the Florida Construction Industry Licensing Board at the following address:
Division of Professions
Construction Industry Licensing Board
1940 North Monroe Street
Tallahassee, FL 32399-0783
The Construction Industry Licensing Board may be reached by phone at (850) 487-1395.
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Only Ashton Agency can provide you with:
Everyone needs a dealer bond, but by contacting the Ashton Agency, you can be sure you'll be getting the best price available, not to mention our stellar customer service and insider knowledge of the auto industry. We've been helping auto dealers get bonded for more than 45 years. Let us put that experience to work for you today!
Call us now at (800) 452-2663 for a free quote and we will contact you within 24 hours. We can assist you over the phone to ensure you receive your bond quickly and easily!
Don't have time to speak on the phone? Please fill out our easy online application and fax to (503) 253-1353. We can get you started right away!