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What is the Florida Financially Responsible Officer / FRO Surety Bond?

A Florida Financially Responsible Officer / FRO Surety Bond is required by the State of Florida Construction Industry Licensing Board of designated Florida Financially Responsible Officers for construction companies. The Florida Financially Responsible Officer / FRO Surety Bond provides a way for the Florida Construction Industry Licensing Board to recoup fines and other costs pursuant to Rules 61G4-15.006 and 61G4-15.0021 of the Florida Administrative Code. These surety bonds are often referred to as FRO Surety Bonds.

What is the current market for a Florida Financially Responsible Officer / FRO Surety Bond?

Florida Financially Responsible Officer / FRO Surety Bonds are widely written by numerous surety bond markets for well qualified applicants. The surety bond amounts for a Florida Financially Responsible Officer / FRO Surety Bond is $100,000 for new applicants or those who first obtained the surety bond prior to February 1st, 2007. The surety bond amount of a Florida Financially Responsible Officer / FRO Surety Bond is $50,000 for those applicants who first obtained the surety bond prior to February 1st, 2007 and have kept the FRO Bond in force uninterrupted since that time. Pricing for these bonds begins at $750 annually and is based on the personal credit score of the applicant.