Florida Financially Responsible Officer Bond

Florida Financially Responsible Officer Bond

Florida requires Financially Responsible Officers (FROs) to purchase a $100,000 surety bond as a prerequisite to obtaining a license with the Construction Industry Licensing Board (CILB). FROs are designated by construction companies to do exactly what it sounds like—oversee the financial responsibility of the business. The bond protects the CILB if the construction company fails to pay all required taxes and fees.

Jet writes Florida FRO bonds for as low as $625 for one year, or you can pay just $63 per month.



We provide qualified FROs with the lowest market rates. 

Other surety companies simply run generic credit checks to determine eligibility and pricing, allowing unqualified applicants to secure coverage while forcing the remaining FROs to subsidize their rates with inflated premiums. 

Our underwriting weeds out the small percentage of bad applicants that cause all of the claims, ensuring reputable FROs do not overpay. 

Don’t subsidize your competition. Get a quote today by completing the above application.

How Much Does the Florida Financially Responsible Officer Bond Cost?

Rates start at $625 for a one year term or you can pay $63 per month. The cost is a small percentage of the $100,000 bond limit.

If you received a lower rate elsewhere, send it to us and we can likely beat it. Our goal is to provide qualified FROs with the lowest market rates.

Bond TermCost
Monthly$63
1 Year$625
2 Years$1,094
Florida FRO Bond Pricing

Can I Obtain a Bond With Bad Credit?

Yes, all applicants are approved for Florida FRO bonds. If you don't qualify for a preferred rate, the most you will have to pay is $1,000 for one year.

How Do Monthly Payments Work?

Qualified FROs have the option to pay for their bonds on a monthly basis.

Unlike traditional premium financing options, there is no down payment required, no financing fees and you can cancel your bond at anytime at no cost.

What if I Need the $50,000 Limit?

FROs that were licensed prior to 2007 only need a $50,000 bond. Rates for the $50,000 limit start at $375 annually or $38 per month.

If you need the $50,000 limit, call Jet at (850) 285-1264 or send us an email at [email protected].

Who Needs a Florida Financially Responsible Officer Bond?

Florida Administrative Code 614G4-15.0021 requires individuals designated as the Financially Responsible Officer of a construction company to purchase a $100,000 bond.

Construction companies in Florida are required to have a qualifier that meets the experience requirements, has passed the required licensure exam and holds an individual license for the license classification the company is applying for and . The qualifier is responsible for managing all projects the company undertakes and ensuring the company adheres to all state laws and local ordinances when engaging in construction work. If the construction company does not appoint an FRO, then the qualifier is responsible for all of the company's financial dealings as well.

For many construction companies, the qualifier is not an owner and does not make financial decisions. In these instances, the company will designate a Financially Responsible Officer that is responsible for ensuring the company remains financially solvent and is compliant with all state regulations.

If you are planning on acting as a FRO for more than one construction company, a separate Financially Responsible Officer Bond is needed for each business. 

Florida Financially Responsible Officer Bond

What Does The Florida Financially Responsible Officer Bond Cover?

The bond protects the CILB in the event the financially responsible officer fails to pay any and all fines and fees levied against the construction company. If the construction company gets fined for noncompliance, or does not pay any license fees owed, then the CILB can file a claim against against the bond to recoup their losses. If a claim is made against the bond, then the financially responsible officer is required to repay the surety company for all claims and claims handling expenses. However, claims are completely avoidable and only occur if the construction company does not meet their financial obligations to the CILB.

Unlike other types of construction related bonds, the bond does not directly protect the construction company's customers and does not cover shoddy workmanship or failure to adhere to the terms of a contract.

The only valid claims against a Florida Financially Responsible Officer bond are made by the CILB for failure to pay fines and/or fees.

How Do Florida FROs File Their Bonds?

FROs in Florida can file their bonds electronically through the Department of Business and Professional Regulation’s (DBPR) Application Center.

You are expected by the Board to hold onto the original form for your personal records (following your purchase with Jet, you’ll receive the original signed and sealed bond form in the mail).

If you have any questions or concerns regarding the FRO application process, the Board’s mailing address and contact details can be found listed below.

Division of Professions
Construction Industry Licensing Board
2601 Blair Stone Road
Tallahassee, FL 32399
850-487-1395

How Do Florida FROs Renew Their Bonds?

Financially Responsible Officer Bonds in Florida are continuous, meaning they do not expire unless the surety company cancels it. As such, FROs do not need to submit any bond renewal documents to the state.

However, FROs still need to renew their bonds with the surety company to avoid cancellation. Jet will send you a renewal quote prior to the end of your bond's term, which can be purchased online.

Are There Other Bonds That a Financially Responsible Officer Needs?

If you are working in the construction industry as a licensed contractor, you may need a Construction License Bond.

How Do Florida FROs Obtain a License?

FROs in Florida are required to apply for licensure and obtain approval by the CILB. Below are the steps to obtaining a Florida Financially Responsible Officer License:

1. Purchase a Surety Bond

All FROs must purchase a $100,000 surety bond or submit a letter of credit.

2. Complete the Application

FROs can submit their completed license applications online through the DBPR's application center. There is a $200 fee that must be submitted with the application.

Applicants that prefer not to apply online can mail a physical application, along with their $200 fee, to the DBPR at the following address:

DEPARTMENT OF BUSINESS AND PROFESSIONAL REGULATION
2601 Blair Stone Road
Tallahassee, FL 32399-0783

3. Get Fingerprinted

FROs must be fingerprinted prior to receiving a license. Instructions on how to do so can be found on the DBPR's website here.

Read More About Your Required Bond

How to Renew My Bond

For annually-purchased bonds, see Jet’s process to renew your bond. Hint- it’s simple.

How to Cancel My Bond

See the details surrounding cancelling your bond.

Florida Financially Responsible Officer Bond Example

Florida Financially Responsible Officer Bond Form

Notary Bond Application:

X

Business Information:

Indemnity Agreement:

I, the undersigned, hereby apply for a Dishonesty Bond also known as a Business Service Bond or Janitorial Service Bond (“bond”) to the Surety Company (“SURETY”) through Jet Insurance Company (“JET”), with whom I hereby grant the authority to act on my behalf with respect to the bond and assign as my Broker of Record, and declare that the statements herein are true and correct. In consideration of the SURETY issuing, renewing or substituting said bond(s), I, individually and as the owner or officer of the bonded entity, hereby understand and agree, as follows: (i) to reimburse, hold harmless, and indemnify SURETY upon demand for all loss, liability, claim, expense, including but not limited to attorneys’ fees, expert’s fees, investigative fees and claims handling fees, and any other cost which SURETY shall pay or incur in defense, adjustment, or settlement of such claims/suits by reason of such suretyship; (ii) that an itemized statement of loss and expenses by SURETY shall be indisputable proof of my liability to SURETY; (iii) coverage is subject to a $100 deductible; (iv) the employee must be convicted before coverage will apply (v) performance and any form of dispute resolution of this agreement shall take place in the county of SURETY's office of service; and (vi) a facsimile copy or electronically signed version of this agreement shall be binding as if it were an original. This agreement shall survive any changes in, substitute to or renewal of the bond(s).

Required Effect Date of Bond Policy:

Contact Information:

Employee Dishonesty Bond Application:

Business Information:

Business Description:

Coverage Requirements:

Indemnity Agreement:

I, the undersigned, hereby apply for a Dishonesty Bond also known as a Business Service Bond or Janitorial Service Bond (“bond”) to the Surety Company (“SURETY”) through Jet Insurance Company (“JET”), with whom I hereby grant the authority to act on my behalf with respect to the bond and assign as my Broker of Record, and declare that the statements herein are true and correct. In consideration of the SURETY issuing, renewing or substituting said bond(s), I, individually and as the owner or officer of the bonded entity, hereby understand and agree, as follows: (i) to reimburse, hold harmless, and indemnify SURETY upon demand for all loss, liability, claim, expense, including but not limited to attorneys’ fees, expert’s fees, investigative fees and claims handling fees, and any other cost which SURETY shall pay or incur in defense, adjustment, or settlement of such claims/suits by reason of such suretyship; (ii) that an itemized statement of loss and expenses by SURETY shall be indisputable proof of my liability to SURETY; (iii) coverage is subject to a $100 deductible; (iv) the employee must be convicted before coverage will apply (v) performance and any form of dispute resolution of this agreement shall take place in the county of SURETY's office of service; and (vi) a facsimile copy or electronically signed version of this agreement shall be binding as if it were an original. This agreement shall survive any changes in, substitute to or renewal of the bond(s).

Required Effect Date of Bond Policy:

Contact Information:

Contract Bond Application:

X

Business Information:

Owner Information:

Job Details:

Indemnity Agreement:

I, the undersigned, hereby apply for a Dishonesty Bond also known as a Business Service Bond or Janitorial Service Bond (“bond”) to the Surety Company (“SURETY”) through Jet Insurance Company (“JET”), with whom I hereby grant the authority to act on my behalf with respect to the bond and assign as my Broker of Record, and declare that the statements herein are true and correct. In consideration of the SURETY issuing, renewing or substituting said bond(s), I, individually and as the owner or officer of the bonded entity, hereby understand and agree, as follows: (i) to reimburse, hold harmless, and indemnify SURETY upon demand for all loss, liability, claim, expense, including but not limited to attorneys’ fees, expert’s fees, investigative fees and claims handling fees, and any other cost which SURETY shall pay or incur in defense, adjustment, or settlement of such claims/suits by reason of such suretyship; (ii) that an itemized statement of loss and expenses by SURETY shall be indisputable proof of my liability to SURETY; (iii) coverage is subject to a $100 deductible; (iv) the employee must be convicted before coverage will apply (v) performance and any form of dispute resolution of this agreement shall take place in the county of SURETY's office of service; and (vi) a facsimile copy or electronically signed version of this agreement shall be binding as if it were an original. This agreement shall survive any changes in, substitute to or renewal of the bond(s).

Required Effect Date of Bond Policy:

Contact Information:

Worker's Compensation Application:

X

Business Information:

Business Description:

Coverage Requirements

Indemnity Agreement:

I, the undersigned, hereby apply for a Dishonesty Bond also known as a Business Service Bond or Janitorial Service Bond (“bond”) to the Surety Company (“SURETY”) through Jet Insurance Company (“JET”), with whom I hereby grant the authority to act on my behalf with respect to the bond and assign as my Broker of Record, and declare that the statements herein are true and correct. In consideration of the SURETY issuing, renewing or substituting said bond(s), I, individually and as the owner or officer of the bonded entity, hereby understand and agree, as follows: (i) to reimburse, hold harmless, and indemnify SURETY upon demand for all loss, liability, claim, expense, including but not limited to attorneys’ fees, expert’s fees, investigative fees and claims handling fees, and any other cost which SURETY shall pay or incur in defense, adjustment, or settlement of such claims/suits by reason of such suretyship; (ii) that an itemized statement of loss and expenses by SURETY shall be indisputable proof of my liability to SURETY; (iii) coverage is subject to a $100 deductible; (iv) the employee must be convicted before coverage will apply (v) performance and any form of dispute resolution of this agreement shall take place in the county of SURETY's office of service; and (vi) a facsimile copy or electronically signed version of this agreement shall be binding as if it were an original. This agreement shall survive any changes in, substitute to or renewal of the bond(s).

Required Effect Date of Bond Policy:

Contact Information: