Construction Surety Bonds
Florida Surety Bonds is the leading surety agency that business owners trust. We help grow the best construction companies in the country with our 65 surety markets and our deep surety expertise. Our contract and commercial departments make us a full-service surety shop where our clients get the best capacity, rates and fast, friendly service. We are committed to remaining an independent family-owned and operated agency in order to maintain the values, counsel and commitments our clients and colleagues have learned to rely on over the past 3 decades. Our purpose is steadfast in doing what’s best for our clients, protecting their interests and providing excellent surety bonding service and unmatched counsel.
Why Choose Florida Surety Bonds?
Decades of Experience
With decades of experience, we provide Florida contractors of all sizes with unparalleled surety support and bid flexibility.
Your Industry Experts
By staying on top of industry trends, our surety agents secure competitive programs for our clients when other firms can't.
Painless Bonding Process
Our in-house underwriting authority and a trusted network of over 65 surety markets ensure a quick and seamless process for all your bond needs.
From bid bonds to performance bonds, we help America's greatest contractors secure success. Find out more below or get a free quote today.
How Do Construction Bonds Work?
Transform your business for the positive with Florida Surety Bonds, America’s premier independent surety-only agency. With nearly 40 years of expertise in construction bonds, we are a family-owned, bond-brokerage-only agency committed to expanding your business.
Types of Construction Bonds
Below are some of the most common types of construction bonds that protect project owners and contractors. Learn more and apply for your bond today.
A surety bid bond is a type of guarantee used in construction and project bidding. It assures the project owner (called the obligee) that the contractor (the bidder) will honor their bid and, if awarded the contract, will follow through by providing required performance and payment bonds. If the contractor fails to do so, the surety (usually an insurance company) covers the financial loss up to the bond amount. Read More
A surety performance and payment bond is a financial guarantee used in construction projects. It ensures that the contractor will complete the project as agreed (performance bond) and pay all laborers, suppliers, and subcontractors involved (payment bond). If the contractor fails to meet these obligations, the surety company steps in to cover losses or complete the work. Read More
A surety subdivision bond is a guarantee required by local governments from land developers. It ensures that the developer will complete public improvements—like streets, sidewalks, or utilities—within a new subdivision, according to approved plans. If the developer fails to do so, the surety company covers the cost to finish the work. Read More
A surety supply bond is a type of guarantee that ensures a supplier will deliver materials or equipment as agreed in a contract. If the supplier fails to meet the terms—such as delivering on time or providing the correct items—the surety company compensates the buyer or finds another supplier to fulfill the contract. Read More
A surety maintenance bond is a guarantee that protects the project owner against defects in workmanship or materials for a specified period after a project is completed. If issues arise due to the contractor’s work, the surety covers the cost of repairs or corrections during the maintenance period. Read More
How Surety Bonds Protect Your Florida Construction Business
A contractor needs to be bonded if it wishes to undertake some of its business. Contractors may shop around for the best possible conditions for doing so, and the conditions may render a bid successful or unsuccessful. Surety bonds are central to doing so by matching Contractors against owners of projects and guaranteeing bidders are qualified and genuine parties. Surety bonds also maintain a quality standard and a performance standard for construction work and minimize risk for owners of projects.
How Bond Costs Are Calculated
The average for such can run anywhere from .5% of the contract value to a high of 3% of the contract value. This depends on a number of factors, including how credit worthy the construction company is and how many bonds per year they buy.
What to Know About The Claims Process
If a contractor is in default of their contract, a claim may be submitted against them. Many times the surety will talk to the contractor. Hopefully, they are able to work out getting things going again. If not, then the surety may steps up to the job by funding having the work completed and hiring a new contractor to finish the work. If a subcontractor or suppliers fulfill their contractual work and are not paid by the contractor, they may submit a claim. This is a simple letter to the surety company. The subcontractor or suppliers states their reason for submitting the claim, in their letter. The more paperwork a subcontractor or suppliers gives a surety bond producer, the better a surety bond producer is able to make a determination.
Get started with your Surety Bond.
For start-ups, design-build, small and large contractors, all we do is bonding. Let us know how we can help you.