Don’t see the bond you’re looking for? No problem! Search the table below, or call 1 (800) 308-4358 and let our experts find it for you!
“How much will my surety bond cost?” is the most common question our clients ask. Although several factors impact your exact surety bond cost, the primary factor is risk. “High risk” means there’s an increased chance that a claim will be made against a bond; these bonds typically require underwriting consideration. Low-risk bonds, on the other hand, can often be issued instantly for a set price.
$50,000 Florida public adjuster bonds, for example, are issued instantly at $500 for a 1-year term. Motor vehicle dealer bonds, though also issued for Florida, require a review of the applicant’s credit history and bond amount. This bond can cost as little as $225, depending on the applicant’s credentials.
Consulting a surety professional is the best way to determine your exact surety bond cost in Florida. You can request your free quote online, or you can call 1 (800) 308-4358 to speak with an experienced bond specialist. SuretyBonds.com works with you to provide the lowest available rate, no matter your circumstances.
- How much does a Florida surety bond cost?
- How much does a $7500 surety bond cost in Florida?
- Are surety bonds hard to get?
- Who needs to be bonded in Florida?
- How does a surety bond work in Florida?
- How do I get bonded and insured in Florida?
- What is a surety bond Florida notary?
- Does Florida require a Notary seal?
- What is a good credit score for a surety bond?
- Does a surety bond affect your credit?
- How much does it cost to get licensed and bonded in Florida?
- How much does it cost to get bonded for notary in Florida?
- How do you get licensed and bonded in Florida?
- Does Florida require bonding?
- Florida Surety Bonds | SuretyBonds.com
- Bonds Overview – Florida Department of Financial Services
- Florida Surety Bonds
- Florida Surety Bonds – Construction, Bid, Performance …
- Florida Notary Surety Bond | NNA
- How to Get a Florida Surety Bond
- The 6 Most Common Surety Bonds in Florida
Determining Your Florida Bond Type
With thousands of unique surety bond forms available nationwide, we know that determining the exact one you need can be confusing. Florida has a variety of surety bond requirements, and it’s important to provide the right bond to earn licensure or protect a title on a vehicle, for example.
Contacting the obligee — the entity requiring the bond — is the best way to ensure you’re obtaining the correct bond. The department, office, or board requiring the bond can connect you with the bond form needed, as well as your required bond amount. These two pieces of information can speed up the bonding process when you work with SuretyBonds.com and guarantee you’re getting the bond you need at the best price available.
The SuretyBonds.com Advantage
Our mission is to provide every client with fast, easy, and accurate service while offering the best available rate. We achieve this by maintaining relationships with the nation’s leading surety underwriters, which ensures our clients have access to the lowest premiums. Over the years, we’ve also perfected our proprietary bonding system, which allows us to provide clients with unparalleled turnaround times.
Florida License Information
SuretyBonds.com is legally licensed to issue bonds in Florida.
Agency License # L068494
Agent Producer License # P227380
How much does a Florida surety bond cost?
Florida certificate of title bonds up to $6,000 cost just $100 and are issued instantly, while bonds between $6,000 and $50,000 are issued instantly at a rate of $15 per thousand dollars of coverage.
How much does a $7500 surety bond cost in Florida?
A $7,500, 4-year notary bond in the state of Florida costs $40 through Notary Public Underwriters.
Are surety bonds hard to get?
SuretyBonds.com experts work hard to approve 99% of applicants for the surety bonds they need despite low credit scores or other financial issues.
Who needs to be bonded in Florida?
Businesses that sell, manufacture or store alcohol in Florida need a bond as a guarantee they will act in accordance with applicable regulations and will pay due taxes. Collection agencies in the state need a $50,000 bond.
How does a surety bond work in Florida?
A surety bond is a three party guarantee put into place to protect the party requesting the bond and guarantees the performance, ability, honesty and integrity of individuals performing various responsibilities and obligations. The three parties involved are the obligee, principal and surety.
How do I get bonded and insured in Florida?
You can get a Florida surety bond from your local insurance company or a licensed surety bond company. Most people to choose to get their bond from a surety bond company because of the expertise and competitive pricing.
What is a surety bond Florida notary?
Florida law requires all Notaries to purchase and maintain a $7,500 Notary surety bond for the duration of their 4-year commission. The Notary bond protects the public of Florida against any financial loss due to improper conduct by a Florida Notary. The bond is NOT insurance protection for Florida Notaries.
Does Florida require a Notary seal?
The use of a Notary stamp is required in Florida. Some Notaries use an embosser in addition to their Notary stamps for extra fraud protection, but it cannot be used as the sole official seal of a Florida Notary Public. Notaries are advised to keep their seal in a secure location when not in use.
What is a good credit score for a surety bond?
Ideally, surety bond companies will look for credit scores higher than 670 and an absence of collections, liens, and judgments. If your credit score is under 670, that’s usually okay, you will likely just have to pay more for your bond.
Does a surety bond affect your credit?
Will my surety bond credit pull affect my scores? Credit pulls for bonds aren’t as invasive as car payment or mortgage loan credit reviews. Most of the time credit reviews for bonds only require a soft pull, which means a minimal impact on your credit score for a short period of time.
How much does it cost to get licensed and bonded in Florida?
$5,000 bond amount: $100 ? $400 per year, based on the license holder’s credit. $10,000 bond amount: $188 ? $700 per year, based on the license holder’s credit.
How much does it cost to get bonded for notary in Florida?
Your Florida Notary Surety Bond. Florida law requires all Notaries to purchase and maintain a $7,500 Notary surety bond for the duration of their 4-year commission. The Notary bond protects the public of Florida against any financial loss due to improper conduct by a Florida Notary.
How do you get licensed and bonded in Florida?
In order to be issued a license, contractors with a FICO credit score below 660 must either post a Construction License Bond or submit an irrevocable letter of credit from a bank. For contractors who want to quickly determine their surety bond cost to see if it is the best option, Surety Bonds Direct can help.
Does Florida require bonding?
In Florida, a contractor surety bond is often referred to as a ?general contractor’s license bond.? This type of construction bond is required if you alter or build any structure. Contractors in good financial standing can get the $25,000 bond coverage required by the state for an annual premium of $125.
Florida Surety Bonds | SuretyBonds.com
Florida Surety Bonds | SuretyBonds.comDon’t see the bond you’re looking for? No problem! Search the table below, or call 1 (800) 308-4358 and let our experts find it for you!“How much will my surety bond cost?” is the most common question our clients ask. Although several factors impact your exact surety bond cost, the primary factor is risk. “High risk” means there’s an increased chance that a claim will be made against a bond; these bonds typically require underwriting consideration. Low-risk bonds, on the other hand, can often be issued instantly for a set price.$50,000 Florida public adjuster bonds, for example, are issued instantly at $500 for a 1-year term. Motor vehicle dealer bonds, though also issued for Florida, require a review of the applicant’s credit history and bond amount. This bond can cost as little as $225, depending on the applicant’s credentials.Consulting a surety professional is the best way to determine your exact surety bond cost in Florida. You can request your free quote online, or you can call 1 (800) 308-4358 to speak with an experienced bond specialist. SuretyBonds.com works with you to provide the lowest available rate, no matter your circumstances.Determining Your Florida Bond TypeWith thousands of unique surety bond forms available nationwide, we know that determining the exact one you need can be confusing. Florida has a variety of surety bond requirements, and it’s important to provide the right bond to earn licensure or protect a title on a vehicle, for example. Contacting the obligee — the entity requiring the bond — is the best way to ensure you’re obtaining the correct bond. The department, office, or board requiring the bond can connect you with the bond form needed, as well as your required bond amount. These two pieces of information can speed up the bonding process when you work with SuretyBonds.com and guarantee you’re getting the bond you need at the best price available.The SuretyBonds.com AdvantageOur mission is to provide every client with fast, easy, and accurate service while offering the best available rate. We achieve this by maintaining relationships with the nation’s leading surety underwriters, which ensures our clients have access to the lowest premiums. Over the years, we’ve also perfected our proprietary bonding system, which allows us to provide clients with unparalleled turnaround times.Florida License InformationSuretyBonds.com is legally licensed to issue bonds in Florida.Agency License # L068494Agent Producer License # P227380
Bonds Overview – Florida Department of Financial Services
Bonds Overview Commercial Bonds: The vast majority of bonds falls under the license and permit surety bond type. This includes businesses such as Auto Dealers, Collection Agencies, Mortgage Brokers and Telemarketers. These bonds are used to guarantee that the individuals or businesses abide by the rules and regulations of their business license. Contract Bonds: Typically used for construction work, these bonds guarantee that the job will be completed as per the terms of the contract and are normally required by law on construction work for public bodies (state, county, cities, etc.). Some examples of contract bonds are: Bid Bond: This form of bond is required to accompany a bid for a contract which will require that the successful bidder furnish further bond if awarded the job. The guarantee is that if the bid is accepted, the bidder will enter into the contract and will satisfy further bonding requirements for the job. If the obligee awards the contract and the bidder refuses to perform the work or furnish required bond, the bid bond guarantees to the obligee payment for the difference between the amount of that bid and the bid of another which is accepted. The bid bond is provided by the surety that will ultimately furnish the additionally required bond. Thus, the surety underwrites the bid bond based on the concept that it will eventually have to “bond the job.” Maintenance Bond: This bond provides for the contractor, once the job has been completed and accepted, to make corrections for any faulty work or replace defective materials. This may be included as part of the performance and payment bond. Payment Bond: The bond guarantees that all labor and materials for the project will be paid by the contractor upon completion of the work. A payment bond is generally required when a performance bond is needed and they frequently are combined as a single bond. Performance Bond: A performance bond replaces a bid bond once the contract has been awarded. It guarantees the financial and physical ability of the entity receiving the contract to complete the job or service for which the bid was awarded. Subdivision Bond: This bond may be required by a permitting authority (city, state, county, etc.) to guarantee that promised streets, sidewalks, sewers, streetlights and other required improvements will be installed in the subdivision. The person who would normally be required to provide this bond to the permitted authority would be the developer of the property. Supply Bond: Someone purchasing goods from another may require a supply contract bond which guarantees delivery at an agreed upon price. This would be important to a contractor who is using this agreed upon price to bid a job. Court Bonds: Bonds are frequently required by courts in various forms of litigation. These bonds are commonly referred to as “judicial bonds”. There are two general types of judicial bonds – fiduciary and court. Some examples of court bonds are: One seeking a writ of attachment against another to prevent that person from disposing of the property in question; One seeking an injunction to restrain a person from doing a certain thing; One who has the property of another seized. Fiduciary Bond: This type of bond guarantees the performance of a person appointed by a court, or named in a will or deed of trust to take possession of property, collect assets, make investments, pay debts, sell assets, carry on a business, distribute property to heirs, or any combination of these and related tasks. The guarantee is that the person will perform such tasks honestly and faithfully, and rectify any deficiencies found in the performance. These bonds are controlled very strictly by the court. The court will require the principal under the bond…
Florida Surety Bonds
Florida Surety Bonds – NNA Surety Bonds Surety Bond Requirements in FL The State of Florida requires many different kinds of surety bonds to allow professionals, contract workers, and organizations to do business there. The necessary liability amount (known as the bond’s penal sum) for your company is set by various regulatory authorities — usually departments within the state government. Different industries have different penal sum requirements. Some policies are available for a set fee amount paid annually, while other bond premiums may vary based on your credit rating. If you would like to know how much your Florida surety bond will cost, or you are unsure of how much coverage your business needs, the experts at NNA Surety Bonds can help. We offer the following surety bonds in the state of Florida: Collection Agency Surety Bond The $50,000 Florida collection agency bond reassures clients that your organization follows the state’s licensing requirements and takes its customers’ liability seriously. Commercial debt collection agencies can expect to pay an annual premium of $500 for this Florida surety bond. Contractor’s License Surety Bond In Florida, a contractor surety bond is often referred to as a “general contractor’s license bond.” This type of construction bond is required if you alter or build any structure. Contractors in good financial standing can get the $25,000 bond coverage required by the state for an annual premium of $125. Medicaid Provider Surety Bond If your company provides health care services and accepts Medicaid payment, then you are required to maintain a $50,000 Medicaid provider bond to conduct business in Florida. You can purchase surety bond coverage for your health care business for as little as $1,000 per year. Process Server Bond A $5,000 surety bond is necessary to work as a process server in the state of Florida. If you deliver legal documents, file and retrieve court papers, or perform other duties of a process server, then you’ll need to carry the proper bond coverage to protect plaintiffs. This bond can be purchased for a premium rate of $100 per year. Public Adjuster Surety Bond As a public adjuster, you must post a $50,000 bond to adhere to FL state guidelines. With this bond, consumers are protected from financial losses that may occur as a result of a public adjuster violating terms of their bond agreement. The bond’s annual premium costs $500. Title Agency Bond To work as a Florida title agent, you need to post a $35,000 surety bond. Proper bonding is required to comply with FL state law regulating the closing process of a real estate settlement. A title agent’s bond helps protect the homebuyers and sellers you work with in the event that your actions result in financial loss for your clients. The premium for this surety bond is $350 per year. Our knowledge of surety bond requirements enables us to provide accurate quotes quickly. For guidance through the process of selecting surety bonds in Florida, whether you are starting a business or renewing an existing license bond, talk to one of our experts today.
Florida Surety Bonds – Construction, Bid, Performance …
Florida Surety Bonds – Construction, Bid, Performance & Payment Bonds HomeSarah O’Linn2021-04-20T13:26:13-04:00Welcome To Florida Surety Bonds The friendly bonding professionals at Florida Surety Bonds have been customizing competitive bonding programs for over 20 years. Because we are exclusively surety bonding agents, our full attention and resources are dedicated to providing you the customer with the best possible surety bonding program in not just Florida but through America. Our 2,000+ clients know we listen to their surety needs whether it be contract bonds, bid bonds, performance bonds, payment bonds, maintenance bonds, license and permit surety bonds and hundreds of other bonds. Florida Surety Bonds is one of Florida’s largest Surety Bonds only agencies which has been achieved through decades of listening to each client’s needs, and providing fast service and competitive rates and negotiating the largest possible surety bond programs. TESTIMONIALS FOR FLORIDA SURETY BONDS “It has been a pleasure working with Florida Surety Bonds, Inc. and their staff over the years. We intend on continuing to work and grow together through the years to come.” – Florida Utility Contractor “[We have] worked with Florida Surety Bonds since 2005. In that time, our surety bonding program as quadrupled.” – Florida General Contractor “We have been associated with Florida Surety Bonds since we started business in 2002. The experience of their team and their expertise in multiple areas has been a resource that we know we can count on. They respond immediately to any surety bonding request that we have.” – General Contractor specializing in hospital and retail in FL “Florida Surety Bonds have handled [our] surety bonding since we started our company back in early 2004. They have always serviced whatever needs we have had in a timely and efficient matter, helped guide us in a financial matters, and review our financial statements assisting us in staying on course.” – Florida Underground Utility Contractor HAVE QUESTIONS? Call 1 (888) 786-2663 or use our form to talk with a Florida Surety Expert today.
Florida Notary Surety Bond | NNA
How to Get a Florida Surety Bond
How to Get a Florida Surety Bond What is a Florida Surety Bond? A Florida surety bond is a surety bond which is specific to the State of Florida or other municipalities within the state. Florida surety bonds are a form of insurance which benefit the obligee who, in most cases, is a state department or another municipality like a county or city. However, other surety bond beneficiaries can be the owner of a private construction project, a general contractor who subcontracts a portion of a construction project, or an individual or business in a court related matter. What Florida Surety Bond Types are there? There are many surety bonds required by Florida for various state and county licenses, construction projects, and court-related requirements. Examples of these bonds include contractor license bonds, motor vehicle dealer bonds, performance and payment bonds, and injunction bonds. You can find a listing of the most common Florida surety bonds by visiting the Florida Surety Bonds section of our website. How do I apply for a Florida Surety Bond? Applying for a Florida surety bond is very easy. First you’ll need to complete our online bond application. All we need is some basic information about your business and we can approve your bond in minutes. What happens after my Florida Surety Bond is approved? Once your bond is approved, you’ll have the option of moving forward with or declining the surety bond quote you’ve received. No further action is needed should you decline the quote. If you are ready to purchase the bond, you will receive an invoice and, in most cases, an indemnity agreement specific to the surety company who has approved your bond. Your Florida surety bond will be issued once the invoice has been paid and signed agreement has been received. How is my Florida Surety Bond premium determined? Your surety bond premium will most likely be determined by the credit score of the business owners, length of time in business, and overall risk of your bond type. Some bond forms are riskier than others and may demand a higher premium. Additionally, performance and payment bonds will require additional underwriting information such as corporate and personal financial statements. Other Important Florida Surety Bond Links Surety Bond Application Florida Surety Bonds Surety Bond Learning Center How do I apply for a Florida Surety Bond? Complete our online Florida Surety Bond application, or Download and complete our printable Florida Surety Bond application, and Receive your surety bond quote in minutes! Apply now
The 6 Most Common Surety Bonds in Florida
The Most Common Surety Bonds in Florida Florida’s allure is much deeper than just the balmy weather that has earned it the title of “Sunshine State.” With one of the lowest tax burdens of any state and a booming business-friendly environment, Florida is also a great place to start a business. Whether you’re in construction, insurance, auto sales, or nearly any other industry, Florida offers access to some of the largest and most diverse U.S. markets for goods and services.It’s important to know that starting a business in Florida often requires obtaining Florida surety bonds. Surety bonds provide protection for customers and governments by providing a financial guarantee that businesses will follow relevant laws and ethical standards. Surety Bonds Direct offers dozens of types of Florida surety bonds to our customers, with fast, easy quotes, affordable premiums, and friendly service. In this article, we’ll give a quick summary of six bonds that are among the most popular with our Florida customers.Florida Contractor License Surety BondsFor many Florida contractors, acquiring a Florida contractor surety bond is a key part of how to get a contractor’s license in Florida. If a contractor has a FICO score below 660, they will first need to obtain a Florida contractor license surety bond (also known as a 660 bond). The penalty sum of the surety bond varies depending on whether the contractor is considered a Division 1 (for general residential and commercial contractors) or Division 2 contractor (for specialty contractors such as roofers and pool builders). Note also that many counties and municipalities in Florida require additional surety bonds for contractors, with penalty sums of up to $25,000. Contractors with designated Financially Responsible Officers must also file Florida Financially Responsible Officer bonds. Florida Adjuster License Surety BondsFlorida public insurance adjusters prepare, file, and negotiate insurance claims for their clients. To get a Florida public insurance adjuster license, an applicant must first obtain a Florida adjuster license bond (in addition to other requirements, such as taking a Florida Certified Adjuster course and passing a state exam). The adjuster license surety bond must cover a penalty sum of $50,000. Florida Dealer License Surety BondsAny kind of Florida motor vehicle dealership is required to obtain a Florida motor vehicle dealer surety bond before the state will issue a Florida dealer license. Motor vehicle dealer surety bonds guarantee that a dealer will represent all vehicles’ condition accurately, pay all applicable taxes, and generally obey Florida vehicle sales laws.Each different type of dealership requires a different bond, including Florida independent used-vehicle dealership surety bonds, Florida mobile home and RV dealer bonds, Florida franchise dealership bonds, and Florida salvage dealership bonds. All types of Florida dealer bonds are required to cover a penalty sum of $25,000. Florida Yacht and Ship Broker Surety BondsFlorida has over 8,000 miles of coastline, which means that yacht and ship sales are a popular business. To ensure that yacht and ship brokers follow the law, any business that sells yachts or ships is required to apply for a Florida yacht and ship broker license. As part of the licensing process, the broker must obtain a $25,000 Florida yacht and ship broker surety bond. Individual yacht salespeople may also be required to obtain a $25,000 Florida yacht salesperson bond. Freight Broker (BMC-84) Surety BondsFlorida’s numerous ports also make it a logistics hub for international trade. That includes freight brokers—businesses that broker and coordinate cargo shipping through third-party logistics carriers. The Federal Motor Carrier Safety Administration requires each freight broker to obtain a BMC-84 surety bond with a penalty sum of $75,000 to ensure compliance with applicable federal laws. Alternatively, freight brokers may create a $75,000 BMC-85 trust through a financial institution, but BMC-84 surety bonds remain a popular option…