FLORIDA SURETY BONDS
Florida surety bonds are required by the state to protect consumers from inappropriate actions towards consumers by bonded businesses and individuals. If a bonded entity or person violates the terms and conditions of the bond, contract, or statute; the harmed individual can file a complaint with the appropriate department or obligee. The obligee can then make a claim on the Florida surety bond in effort to repay the harmed party for the financial damage caused by the bonded entity.
How do I apply for a surety bond in Florida?
Applying for your bond is easy. Choose your bond type from the drop down list below then click “Get Your Bond Quote”.
Most bonds are approved as soon as your application is received.
Who needs Florida surety bonds?
Most businesses who operate in the State of Florida find that they will need a Florida surety bond at some point. Florida’s various departments such as the Department of Agriculture and Consumer Services, the Department of Highway Safety and Motor Vehicles, and the Construction Industry Licensing Board all require bonds in one form of another for businesses applying for their state license. Some of the most popular bond types are the Florida Seller of Travel bond, Florida Construction License Bond, Florida Motor Vehicle Dealer Bond, and the Sub 660 Credit Score bond required of division I and II contractors with a FICO derived credit score less than 660.
Why do I need a Florida surety bond?
The State of Florida requires surety bonds in order to obtain your state license or permit for a given industry. They are required of the individual licensee, a business, or both depending on the license type. Choose any surety bond in Florida listed below fore more information on that bond type.
However, there are many more Florida surety bonds required by the state other than those listed above. Please email us at info@dblsurety.com or call us at 386-316-2547 if you do not see your bond type listed above.
How much does a Florida Surety Bond cost?
Florida surety bonds vary in terms of price and typically depend on an individual’s personal credit score. However, larger surety bonds may require additional information such as a personal financial statement, corporate financial statements, and similar items. This information can either reduce or increase your Florida surety bond cost depending on the quality of the information provided. In general, those bonds relying on a personal credit score are typically approved for 1-3% of the bond amount needed for individuals with good credit and 4-15% of the bond amount needed for individuals with bad credit.
Do you write bad credit Florida surety bonds?
Absolutely! In fact, DBL Surety has direct access to multiple surety bond companies who are able to provide a quote for your Florida surety bond. While pricing varies depending on the type of surety bond needed, you can expect a rate in between 4-15% of your surety bond amount. For example: You have requested a $25,000 Florida Motor Vehicle Dealer Surety Bond and have bad credit. You receive a quote of 5% from DBL Surety. This means your bond will cost $1,250 annually.
How fast can I obtain my Florida surety bond?
Your Florida surety bonds can be approved in minutes! All we need is some basic information about the bond and the company or individual applying for it. The process is that simple and the majority of bonds applied for are approved regardless of good or bad credit. Additionally, we have a massive library of Florida surety bond forms so if you’re in need of an Agricultural Dealer bond or a Solid Waste Facility Closure/Post Closure trust agreement we have it on file. You can also have your original bond the next day after it has been approved and processed by selecting our overnight option. In some cases we can have your original bond delivered to your door by 9am the next morning. Not to mention that you’ll receive a copy of your Florida surety bond the same day it has been processed for your records.
Which Florida surety bond do I need?
Are you unsure what type of Florida surety bond you need? Call us at 386-316-2547 or email us at info@dblsurety.com and we’ll help you find the best bond type for you or your business.