The Florida Department of Business and Professional Regulation requires the Florida Construction License Bond.
The Department of Business and Professional Regulation requires contractors to obtain a license before they can to engage in business of construction. This license establishes that the contractor is financially responsible and ethical. So, contractors can be required to get a Florida Construction License Bond to prove financial responsibility. Among other things, it helps ensure that contractors remain ethical and financially responsible.
If an applicant does not have a 660 credit score at the time they apply, they will be required to obtain some kind of security. The security can be in the form of a surety bond or letter of credit. Surety bonds are popular and very easy to obtain, and many contractors chose to use them as their form of security. Those applicants who do not have 660 credit and have not completed the 14-hour financial responsibility course must submit a bond in the amount of:
However, these amounts may be reduced to $10,000 for Division I contractors and $5,000 for Division II contractors by completing a board-approved financial responsibility course.