Florida Financially Responsible Officer | $100,000 Financially Responsible Officer Surety Bond
Type of Bond
A Florida Financially Responsible Officer Bond is a specific type of surety bond required in the state of Florida for construction companies. This bond is necessary when a construction company designates an individual as the Financially Responsible Officer (FRO). The FRO is responsible for all financial aspects of the company's operations, including obtaining credit, managing financial assets, and ensuring that the company meets its financial obligations. The primary purpose of the Florida Financially Responsible Officer Bond is to provide a form of insurance that protects both the state and consumers from financial mismanagement or fraud by the construction company. It ensures that there is accountability for financial decisions and that the company can cover potential claims or liabilities. Here are some key points about this type of bond: Financial Responsibility: The bond guarantees that the FRO will adhere to state laws and regulations regarding financial transactions and obligations within the construction industry. Protection for Consumers: It offers a level of protection for consumers by providing a means of compensation in case the construction company fails financially or engages in unethical financial practices. Requirement for Licensing: Having an FRO with this bond in place is often a requirement for obtaining or maintaining a construction license in Florida. Companies must secure this bond through a licensed surety company, and the amount of the bond typically depends on the financial responsibilities and the scale of the company’s operations. This bond is crucial for maintaining the integrity and financial health of the construction industry in Florida.
Program
The price you'll pay for your $100,000 Financially Responsible Officer Bond is generally based on your personal credit score. Start a free online quote by just completing a simple app or by calling 888-518-8011. Our experts will walk you through a very simple process. Compare our quote as the very lowest price, and then you're good to go! It's that simple!
We provide all types of $100,000 Financially Responsible Officer Bonds. Worldwide Insurance Specialists, Inc. has "in house" underwriting authority with the largest and best Surety (Insurance) companies in the world including, Great American, Liberty Mutual, Philadelphia, Travelers, and CNA Surety. All of these surety bond companies are A-rated under the AM Best credit rating system, and T-listed with the U.S. Department of Treasury. This guarantees that by getting bonded through us, you will be provided the backing of these highly trustworthy and reliable companies.
Application
The application process for a $100,000 Financially Responsible Officer Bonds is easy! Many Bonds are INSTANT ISSUE! Easy Application, no underwriting, no credit check, no GIA required. Our NEW Desktop underwriting program provides you with a rapid approval process used to determine the degree of risk that you (the Principle) complete a project or obligation. Non-INSTANT ISSUE quotes can also get instantly approved. Submissions require very little information from you. Once you file and sign an indemnity agreement, we issue the Bond. It's that simple! We quote and issue Surety Bonds of every type and will help you through the entire process. These applications only require basic information about your business, bond type, and ownership structure. Once the application is complete, we submit to the insurance company (Surety) who will then issue your bond. Don't pay too much! Get your Bond Fast, and Easy with the best price! Click here to start the Financially Responsible Officer Bond Application process.
The Florida Financially Responsible Officer Bond amount is currently set at $100,000.
Obligee Information
An obligee is the entity that is requiring you to have the Financially Responsible Officer bond.
Obligee: Florida Department of Business & Professional Regulations
If you or your business needs help in obtaining a surety bond or commercial insurance give us a call!