Suppose an applicant has a FICO credit score lower than 660. In that case, they will be asked to provide a license bond or letter of credit to obtain the license. Please see the Florida Construction Industry Licensing Board for additional information on Board requirements. Division I Construction Contractors need to obtain a Florida Construction Industries License Bond for $20,000 and Division II Construction Contractors needs to obtain a Florida Industries Financially Responsible Officer Bond in the amount of $10,000
By posting a bond, a contractor warrants that they will comply with all laws, rules and regulations regarding construction work within that city or county. Ensure that the contractor performs its work in accordance with local building and construction codes.
Most Florida Contractor License Surety Bonds do not require subscription, they can be issued without a credit check. Other bonds, such as the Florida Building License Bond (Sub-660 Credit Score Bond), will require a review of your personal credit report. Only in the state of Florida. These bonds range in amounts from as low as $ 1,000 to $ 25,000 or more. The vast majority of these Cities and Counties in Florida require surety bonds in the amount of $ 5,000.