Florida Contractor License Bond

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What is a Florida Contractor License Bond?

Contractors in Florida may be required to have a license to do business with residential or commercial customers when working in the state. The licensing requirements may also include obtaining a Florida contractor license bond which is a type of surety bond. A Florida contractor license bond provides protection to customers of licensed contractors to help prevent fraudulent and illegal practices when working on a project. Should a customer suffer financial losses in the process, a claim can be made against the bond for compensation.

A Florida contractor license bond works like other surety bonds as a three-party contract. The licensed contractor is the principal, while the obligee is the local municipality requiring the bond to be posted. The surety company provides the bond to the principal, and pays for claims when they arise. However, the contractor required to repay the claim amount if found to be valid.

Who is Required to Get a Florida Contractor License Bond?

Florida contractors may be required to hold a valid license if they work in specific categories in the construction industry. If a license is necessary, a Florida contractor license bond may also be a requirement. Some of the most common licenses that require a Florida contractor license bond include:

  • Speciality contractors
  • Mechanical contractors
  • Roofing contractors
  • HVAC contractors
  • Plumbing contractors
  • Residential and commercial contractors
  • General contractors

Obligee Details for Florida Contractor License Bonds

In the state of Florida, contractors may be required to complete a licensing process based on state law. When the state requires licensing, a Florida contractor license bond may also be necessary. The Florida Construction Industry Licensing Board is responsible for processing licensing requests and renewals, and acts as the obligee of a Florida contractor license bond. The agency’s contact information is as follows:

Division of Professions

Construction Industry Licensing Board

2601 Blair Stone Road

Tallahassee, Florida 32399

Phone: 850-487-1395

When local licensing requires a surety bond, the city or county’s licensing authority acts as the obligee for the bond.

What Does a Florida Contractor License Bond Cost?

The bond amount a licensed contractor needs varies depending on the type of work he or she will perform. Division I contractors must post a $20,000 bond, while Division II contractors need either a $10,000 or $5,000 bond. However, you do not pay the entire amount of the Florida licensed contract bond. Bond premiums, or the cost of the bond, are calculated as a percentage of the total, often ranging from 1 to 10%.

The bond premium you pay depends on a few factors, including your personal credit score and business financial strength. A high credit score means you will pay between 1 and 3% of the bond total, while a low score requires you to pay a higher premium.

How Do I Get a Florida Contractor License Bond?

Getting a Florida contractor license bond starts with a brief application submitted online. Once the surety company has an opportunity to review your application details, you are provided a quote for your bond premium and guidance on how to finalize the process.

Expiration Date and Renewal for Florida Contractor License Bonds

Licensed contractors working in Florida renew a certified or registered license on August 31 of either even-numbered or odd-numbered years, depending on the type of license they hold. The expiration date of a Florida contractor license bond is the same as the renewal date for the license. Renewal information and instructions to complete the process are provided by the surety company issuing the Florida contractor license bond.

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Frequently Asked Questions

How much does a bond cost?

Pricing is a percentage of the contractor license bond amount that’s required of you, which is based on your personal credit. Use our bond pricing tool to to get a quick ballpark estimate.

Can I get bonded with bad credit?

Yes. You can apply and get bonded with bad credit. Our agency is the largest writer of bonds in the county, which allows us to approve contractors for bonds when other agencies cannot.

Are these the same as contract bonds?

No. Contractor license bonds ensure you will abide by the laws of your state, city or municipality when performing contracting work. Contract bonds guarantee public projects will be completed properly and are a separate bond type. You can learn more about contract surety bonds by visiting the contractor bond center.

Do I need a state or local bond?

It depends on who is requiring the bond of you, the local municipality, county or state. Depending on your location, it is possible you may need both a local and state bond, as contractor license bond requirements can vary drastically. You can select your state to see a full list of contractor license bond requirements.

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