Florida Surety Bonds

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Surety Bond Professionals is a family owned and operated bonding agency with over 30 years of experience. With access to a broad range of surety markets, our expert agents are ready to assist with all of your Florida surety bond needs.


Required Surety Bonds in Florida

Typical Florida bonds include (click on any for more info):

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Required Surety Bonds in Florida

Florida surety bonds are broadly categorized as construction and contractor bonds, license and permit bonds, or court bonds.

Florida Construction & Contractor Bonds

In addition to the contractor license bonds required in some local jurisdictions, quite a few Florida municipalities require construction contractors to purchase contract bonds in order to bid or work on publicly funded projects. These bonds can include bid bonds, performance bonds, payment bonds, maintenance bonds, subdivision bonds, and others.

Florida License Bonds

License bonds are surety bonds that are required as part of the process of obtaining a business or professional license to operate within the state of Florida. The state issues licenses to a wide range of professionals and business owners, such as tax preparers, concessionaires, private investigators, driving schools, and more. Perhaps the most common license bonds issued by the state of Florida are those required for auto dealers and construction contractors.
A number of towns, cities, and counties also require professionals operating within their jurisdictions to purchase surety bonds.

Florida Court Bonds

Court bonds are often required by Florida courts for people with matters before the court. Among the most common court bonds are various types of appeal bonds, probate bonds, and guardianship bonds.

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Frequently Asked Questions

There are three parties to every surety bond agreement, which is a legally binding contract:

  • The “obligee” is the state or local agency requiring the surety bond.
  • The “principal” is the party required to purchase the bond.
  • The “surety” is the company underwriting and issuing the bond.
  • The obligee sets the required amount of the bond, which is the maximum amount that will be paid out on a claim. The obligee also spells out the conduct required of the principal in order to avoid claims against the surety bond.

Any party who suffers a financial loss because the principal has violated the terms of the bond has the right to file a claim against the bond. The principal is solely responsible for paying all valid claims.

However, the surety will often pay a claim and wait to be reimbursed by the principal. This ensures timely settlement of the claim and gives the principal some time to gather the necessary funds.

What the principal in a bond agreement actually pays for a surety bond is a small percentage of the required bond amount established by the obligee. That percentage, known as the premium rate, is determined by the surety company based on the applicant’s credit score and other indicators of the likelihood of claims being filed against the bond. Those with good credit can expect a rate of 1-3%. Those with poorer credit may pay a higher premium.
No claim against a bond will be paid until the surety company has investigated and determined that it is valid. After making payment to a claimant, the surety company will demand reimbursement from the principal.