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Florida Construction Surety Bonds

Construction businesses in Florida need construction bonds for many public projects and private owner requirements. Surety Bonds Agent helps move your quote request forward with a quick, clear process. Request a free quote online.

Contact Us for a Free Construction Bond Quote

It’s easy with our simple 3-step process:

  1. Apply Online
  2. Get Quote
  3. Receive Bond
about bond type

What Is a Florida Construction Bond?

Florida construction surety bonds protect state and local contracting authorities and private project owners against the financial harm that can result from a contractor’s regulatory or contractual violations.

img What Types of Florida Construction Bonds May Be Needed?

Florida licenses contractors at the state level and some Florida municipalities have their own licensing requirements. Some contractors will have to provide a contractor license bond in order to obtain a state license.

Florida’s Little Miller Act, the state’s version of the federal Miller Act, requires both performance bonds and payment bonds from contractors working on state-funded projects valued in excess of $100,000, though there may be some exemptions. Private project owners may also require their contractors to provide these bonds. Bid bonds may be required by both public and private project owners during a competitive bidding process. Both government and private project owners may require contractors to purchase any of the following types of construction bonds:

  • Maintenance bonds
  • Subdivision/site improvement bonds
  • Supply bonds
  • Solar decommissioning bonds
  • Right of Way bonds
  • Contractor license bonds
img How Does a Florida Construction Bond Work?

The three parties to every Florida construction bond are the:

  • Obligee—the contracting authority/project owner
  • Principal—the contractor
  • Surety—the bond’s guarantor

The obligee sets the required bond amount, also known as the bond’s “penal sum.” The principal is legally obligated to pay valid claims up to the full amount of the bond. The surety agrees to extend credit up to that amount to the principal for the purpose of paying claims. The surety will initially pay the claimant as a loan to the principal, who then must repay the resulting debt to the surety. Not doing so can subject the principal to legal debt recovery action by the surety.

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How Much Does It Cost?

The two factors that go into calculating the annual premium for a Florida construction bond are the required bond amount and the premium rate. The surety sets the premium rate based on the principal’s creditworthiness, which is a reliable measure of the risk of not being repaid for claims paid on the principal’s behalf.

A high personal credit score equates with a low risk to the surety, so the premium rate will also be low. A low score means higher risk, which warrants a higher premium rate.

The premium rate for a principal with good credit usually is in the range of 1% to 3%.

step by step guide

How Do Florida Construction Bonds Work?

  • Choose Your Bond Type

    Select the bond you need — commercial, contract, or any specialized bond. We help you find exactly what is required in your state.

  • Submit a Quick Application

    Complete a short online form. It only takes a few minutes, with no extra paperwork or long verification steps.

  • Get Approved & Receive Your Bond

    Get fast approval and receive your bond instantly by email. Your document is ready to use right away.

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Why Work With Us?

Easy Application Process

Simply fill out our convenient online application form to get started.

Extensive Carrier Network

We work with a wide range of carriers to provide many options to our clients.

Competitive Rates

As an independent agency, we can leverage our carrier network to find the most competitive rates for the bonds you need.

Quick Turnarounds

We work to get you bonded as quickly as possible, often in 24 hours or less.

Exceptional Service

Our experienced surety bond agents provide personalized assistance to help you understand your bonding requirements and options.

Call us Today!

And get a free consultation.

866-362-6637
who we work with

Our Insurance Company Partners Nationwide

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Testimonials

What our customers say about us

Super easy process. I found the bond I needed in minutes and received the approved document the same day. Great experience overall.

Emily R., Business Owner
Contractor

The application was fast, the support team was responsive, and the pricing was clear. Very smooth and professional. Everything was explained clearly, and I appreciated how quickly I received my bond.

Jason M., Contractor
Small Business Owner

Super easy process. I found the bond I needed in minutes and received the approved document the same day. Great experience overall.

Emily R., Business Owner
Oberman & Oberman

The application was fast, the support team was responsive, and the pricing was clear. Very smooth and professional. Everything was explained clearly, and I appreciated how quickly I received my bond.

Jason M., Contractor
Oberman & Oberman

Request a Quote

Request an online quote today! Or speak with one of our knowledgeable surety bond agents about the commercial bonds you are interested in.

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