Florida - Financially Responsible Officer (FRO) ($100,000) — required surety bond in Florida. Apply online in minutes.
A Florida Financially Responsible Officer (FRO) Bond is a surety bond that holds a designated corporate officer personally responsible for a construction company's financial and legal obligations. It guarantees that the officer will properly oversee the business's finances and ensure compliance with state construction industry regulations.
This bond is typically needed by individuals appointed as the financially responsible officer for a construction or contracting business in Florida. It is generally required when the primary qualifying agent (the license holder) does not own a controlling interest in the company.
The obligee requires this bond to protect the public and the state from financial harm caused by a construction company's fiscal mismanagement or regulatory violations. It provides a reliable avenue for restitution if the FRO fails to maintain proper financial oversight. Specific requirements vary, so always verify details with the issuing agency.
To get your bond through Noah Insurance Agency, simply click Apply Now to begin the process. You can complete our ~5 minute secure online application from any device. Once approved and finalized, your bond will be conveniently delivered by email.
Premiums vary based on the applicant's credit history, financial standing, and other underwriting factors. Please apply online for exact figures.
Approval times vary depending on the applicant's profile and underwriting needs. Complete our secure online application to get the process started.
If a valid claim is filed, the surety will compensate the harmed party up to the bond's limit. The principal (the FRO) is then legally responsible for reimbursing the surety for all paid claims and expenses.
Requirements vary based on your company's ownership structure and the role of the qualifying agent. You should verify your specific obligations directly with the issuing agency, or call Noah Insurance Agency at 814-718-0060 for general surety assistance.
Send us a note or call 814-718-0060 — a licensed agent will confirm the bond amount and requirements for you.
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