Need a Surety Bond in Florida? Here Is What You Should Know
If you are a business owner and need a surety bond in Florida, there are several things to keep in mind. Learn more about surety bonds or contact us today for a quote.
Get the Surety Bond You Need to Comply With State Laws
Suppose you are a business owner in specific regulated industries. In that case, you may need to purchase a surety bond to ensure that you follow through with the contract you have made with a third party or other obligations. A surety bond protects consumers from financial losses incurred by a business’s failure to follow through with its contractual obligations. At Surety Bonds Co., we offer all the Florida surety bond insurance you need to protect your clients and your business. Contact us today to learn more or to purchase your bond.
What Is a Surety Bond in Florida?
A surety bond is a type of insurance policy that Florida requires certain businesses to purchase when they provide products and services to another party. The business providing the service is known as the principal, whereas the person or business receiving the service or requiring the bond is known as the obligee.
What Is The Surety?
The surety is the insurance company providing the bond. If the principal fails to fulfill the terms of their contract, the obligee can file a claim, and the surety will reimburse the obligee. The principal will then be responsible for reimbursing the surety. Surety bond requirements vary by industry.
Surety Bond Obligee
The surety bond obligee is the party that requires the principal to purchase a surety bond. In some cases, this can be the entity receiving the service provided by the principal, but in many cases, it is the state or local government.
Surety Bond Regulatory Agencies in Florida
Several state and local agencies regulate surety bonds in Florida, so it’s essential to know all the laws when conducting your business. Some agencies that require surety bonds include the Construction Industry Licensing Board and the Department of Agriculture.
Why Do You Need a Surety Bond?
Florida requires businesses in several industries to obtain a surety bond. In addition, getting a surety bond, even if you aren’t required to have one, is a show of good faith to your customer.
Types of Surety Bonds in Florida
There are several different types of surety bonds, including commercial bonds, contract bonds, court bonds, and fiduciary bonds. In addition, there are more than five dozen different bonds available in the state of Florida. These bonds include:
- Agricultural Products Dealer Bond
- Alcoholic Beverages and Tobacco Bond
- Bid Bonds
- Business Opportunity Bond
- Business Service Bond
- CDL Third-Party Administrator Bond
- Certificate of Title Bond
- Citrus Fruit Dealer Bond
- Class E Driving Exam Bond
- Collection Agency Bond
- Contractor License Bonds
- Credit Service Organization Bond
- DMEPOS Bond
- DMEPOS Competitive Bidding Bond
- ERISA Bond
- Federal Maritime Commission Bond
- Fertilizer Dealer Bond
- Financially Responsible Officer Bond
- Freight Broker Bond
- Game Promotion Bond
- Hazardous Waste Bond
- Health Studio Bond
- Home Medical Equipment Provider Bond
- Home Warranty Association Bond
- Hunting and Fishing License Agent Bond
- Janitorial Service Bond
- Lost Instrument Bond
- Lottery Bond
- Medicaid Provider Bond
- MMA or Boxing Promoter Bond
- Mobile Home Bond
- Money Transmitter Bond
- Mortgage Broker and Lending Bond
- Pollutant Tax Bond
- Motor Carrier Compliance Bond
- Motor Vehicle Dealer Bond
- Notary Bond
- Patient Trust Bond
- Pawnbroker Bond
- Performance Bond
- Premium Finance Company Bond
- Prescription Drug Wholesale Bond
- Private Educational Institution Bond
- Probate Bond
- Process Server Bond
- Professional Solicitor Bond
- Public Adjuster Bond
- RV Manufacturer or Van Converter Bond
- Sales Tax Bond
- Seller of Travel Bond
- Slot Machine Licensee Bond
- Surplus Lines Agent Bond
- Talent Agency Bond
- Telemarketing Bond
- Title Agency Bond
- Title Loan Bond
- Utility Deposit Bond
- Wildlife and Venomous Reptile Bond
- Yacht and Ship Salesperson or Broker Bond
If you need a bond and don’t see it listed here, or don’t know what type of bond you need, contact us today. We’ll be happy to help guide you through the process and identify the right ones for your business.
How to Get a Surty Bond in Florida
Step 1: Apply for a Bond
Give us a call today or apply online to begin the process. We’ll help you determine what type of bond you need and walk you through the process.
Step 2: Get Coverage
Once your application is approved, we’ll give you the coverage you need to protect your business from liability and fines.
Step 3: Get Back to Work
Our bond application process is straightforward, so you can get the coverage you need fast. Contact us today to begin.
Why Choose Surety Bonds Co.?
At Surety Bond Co., we have years of experience helping local business owners get the surety bonds they need to run their businesses legitimately and comply with all state laws. Our primary concern is ensuring our clients are protected and continue to provide excellent service to their communities.
We proudly offer competitive pricing, prompt communication, and reliable service. Contact us today to learn more about what makes us one of the top surety companies in Florida.
How Much Do Surety Bonds in Florida Cost?
The cost of your bond will vary depending on how much coverage you need, what industry you are in, and the level of risk involved. We will help you determine what type of bond you need and help you get the bond you need for your business.
We can also help you determine which regulatory agency to contact for further information on the type of bond you need. Contact us today for the lowest possible pricing on all the bonds we offer.
Protect Your Business and Reputation
Getting the proper surety bonds for your business is the best way to ensure that you comply with all local and state laws. Contact us today to apply for surety bonds in Florida.
