Florida Financially Responsible Officer (FRO) Bond
How much does a Florida financially responsible officer bond cost?
The cost to purchase a Florida financially responsible officer bond is $1,000 for a 1-year term.
No credit check is required, and the same rate applies to all applicants.
What is a Florida financially responsible officer bond?
A financially responsible officer (FRO) bond is required by the Florida Department of Business and Professional Regulation (DBPR) for financially responsible officers operating in Florida.
Financially responsible officers for construction companies must purchase this bond as part of their state licensure process. This bond protects the state and public from non-payment of funds and ensures the financially responsible officer will comply with state and federal laws.
Financially responsible officers are required to prove financial responsibility by posting an Irrevocable Letter of Credit (ILOC) or a FRO bond in the amount of $100,000.
Why do I need a financially responsible officer bond?
Financially responsible officers have the important role of overseeing and managing a company's finances. All individuals acting as a financially responsible officer for a construction company in the state of Florida are required to purchase a FRO bond by the Construction Industry Licensing Board of the Florida DBPR.
This license bond guarantees financial responsibility and compliance with Florida laws and regulations.
Where can I get a financially responsible officer bond?
You can purchase a financially responsible officer bond with NNA Surety Bonds today by clicking here.
No credit check is required to purchase this bond. You'll receive your official bond documents electronically as soon as your order is processed.
What else should I know about Florida financially responsible officer bonds?
This surety bond for financially responsible officers may also be referred to as a FRO bond or FRO contractor bond.
A financially responsible officer must purchase this bond as part of the state licensure process. More information on the Florida state licensure process is provided by the Construction Industry Licensing Board.