Financial Stability in the Construction Industry

 

Construction cranes in front of office building

© Ditto/Corbis

Think you’re stable? Do you have financial responsibility within the construction industry in Florida? Well, the State of Florida wants to know.

State law in Florida requires that a construction contractor must be financially stable prior to the receipt of a contractor’s license. Although the bond can sometimes be waived for qualified applicants, there is a requirement from the low end of $5,000 to the high end of $100,000.

Generally, all financially responsible officers in the Florida construction industry should have the Financially Responsible Officer (FRO) bond.

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