Florida Construction Bonds
Absolute Surety, LLC
4314 Edgewater Drive
Orlando, FL 32804
Local: (407) 674-7940
Toll Free: (855 ) 689-5106
Fax: (407) 674-7978
Surety Bonds for the Construction Industry in Florida
Absolute Surety, LLC is a locally and family owned independent insurance agency located in Orlando, FL . We provide bond programs to the construction industry. Whether you are just getting started as a contractor or have been licensed for years and looking to grow your company and save money, we can help! Throughout the construction industry there are several different types of bonds. Below is a list of the more common types:
Florida Contractor Surety Bonds
Florida Contractor License Bonds – These are mostly $5,000 bonds that the city or county will require. While most are just a 1 year bond, Palm Beach County does require a 2 year bond. Some counties also call these code compliance bonds. These bonds are issued with no credit check and can be mailed to you today! Apply Now
Florida Financial Stability Bond (660 FICO Bond) – These bonds are required for those contractors wishing to obtain a license but whose credit score is below 660. We were one of the first agencies to write these bonds and continue to write these at great rates. There are 3 different bond amounts: $20,000 for Division I contractors or $10,000 for Division II contractors. These amounts may be reduced to $10,000 for Division I contractors and $5,000 for Division II contractors by completing a board-approved 14 hour class. Apply Now – 660 Bond
Florida Financially Responsible Bond (FRO Bond) – This is a $100,000 bond that the Florida Construction Industry Licensing Board require for all individuals wanting to act as a financially responsible officer of a construction business. We offer these bonds as low as $750.00 per year with approved credit. Apply Now – FRO Bond
Florida Bid Bonds – Bid bonds are sometimes required in order for sub-contractors to bid on certain jobs. These bonds insure that the bidder will be able to provide a performance bond in the amount of the contract upon winning the bid. If you are a contractor who has been in business less than a year, you should be looking at bids under $100,000 until you have established a relationship with a bonding company. The owners personal credit plays a big role in obtaining bid bonds and performance bonds. We have the ability to provide bonds up to $20MM for those larger contractors as well.
- For bonds under $450,000 click here for an application
- For bonds from $450,001 to $1M click here for a simple application
- For bonds over $1M, please contact us at 407-674-7940 (3 years of CPA financials must accompany the application)
Florida Performance Bonds – Many contractor jobs require a performance bond to be obtained. These bonds guarantee that the contractor will perform the work indicated in the contract. You must submit a copy of the contract with an application. In order to obtain a performance bond, all owners and spouses must have acceptable credit. If your business has never been bonded before we suggest you start with smaller contracts ($30-$100k range) and build a relationship with the surety companies. If you have previously been bonded, please let us know as this will help with the underwriting process. Most bonding companies want to see strong credit with length of time in business. We have many options when it comes to obtaining performance bonds.
- Bonds up to $450,000 – click here for an application
- Bonds from $350,001 to $1M – click here for an application
- Over $1M – Please contact us at 407-674-7940 (must submit 3 years of CPA certified company financials)
We also provide many other types of commercial, contract, court, and fiduciary bonds. Please visit www.absolutesurety.com for any other types of bonds you may need.