You can now get a Bid Bond (almost) instantly. For Bids under $100,000, click here 
For all bids greater than $100,000, get our Express Application form:
Express Application (click to download form)
- Complete the form and email to [email protected].
- Be sure to include the RFQ/ITB (bid specs from the obligee).
What is a Bid Bond in Florida?
A bid bond is one of the types of surety bonds, which guarantees that the bidder will enter into the contract and complete the contract according to its terms. It provides assurance to the project owner that the bidder has the know how and ability to complete the job once you are selected after winning the bid. The simple reason is that you need one so that you get the contract. However, the bigger question is why are more owners/developers requiring a bid bond? The simply explanation is risk. Given the uncertainty of the marketplace, which includes long-time contractors closing shop, to municipalities filing bankruptcy (or just slow paying), has led to owners being afraid that their contractors will be unable finish the work. Thus, they require a some protection.
Just fill out our bond application here and email it to [email protected] - click here to get our Florida Bid Bond Application
A bid bond is issued as part of a bid by a surety bond company to the project owner. The owner is then assures that the winning bidder will take on the contract under the terms at which they bid.
Most bid bonds contain a bid percentage (usually 5% or 10%, is forfeited if you don’t accept the job).
How much does a Bid Bond Cost in Florida?
Swiftbonds does not charge for a surety bid bond (with two exceptions, see below). The reason that we don't charge for a bid bond is that we will charge for the surety contract bond if you get the job. The cost of a bond can vary widely depending on the amount of coverage that is required (see below).
Two exceptions for bid bond charges:
1) We do charge for Overnight fees
2) We will charge you if there is NOT going to be a bond on the contract.
How much do bonds cost in FL?
Bond prices fluctuate based on the job size (that is, it's based on the cost of the underlying contract). The cost of a bond is estimated through a couple of back-of-the-envelope calculations. In general, the cost is approximately three percent (3%) for jobs under $800,000 and then the percentage is lower as the contract amount increases. We work diligently to find the lowest premiums possible in the state of Florida. Please call us today at (913) 286-6501. We'll find you the very best rate possible for your maintenance bond or completion bond. Things that can affect this pricing are the perceived risk of the job, the financial position of the entity being bonded, plus other factors. See our Swiftbonds Performance Bond Cost page for more.
| Bond Amount Needed | Fee |
| <$800,000 | 2-3% |
| >$800,000<$1,500,00 | 1.5-3% |
| >$1.500,000 | 1-3% |
These rates are for Merit clients, Standard rates are higher
How do I get a Bid Bond in Florida?
We make it easy to get a contract bid bond. Just click here to get our Florida Bid Bond Application. Fill it out and then email it and the Florida bid specs/contract documents to [email protected] or fax to 855-433-4192.
You can also call us at (913) 286-6501. We will review each application for bid and P&P bonds and then submit it to the surety that we believe will provide the best bid bond for your company. We have a great success rate in getting our clients bid bonds at the best rates possible.
Florida Bid Bonds Unveiled: Understanding the Essentials
From our perspective, Florida bid bonds are critical instruments that contractors use to provide financial assurance to project owners. A bid bond guarantees that the contractor will enter into a contract if their bid is accepted, and in Florida, this bond ensures that taxpayers and public projects are protected from financial risk. These bonds are mandatory for many public construction projects, offering a safeguard against frivolous bidding and incomplete projects.
Finding Florida Bid Bonds Near You: Tips and Tricks
We’ve noticed that locating a bid bond provider in Florida is straightforward, thanks to the state’s vast network of surety bond companies. Most surety bond agencies are licensed and regulated, ensuring compliance with Florida’s statutes. For those looking to streamline the process, online search tools, coupled with recommendations from local contractors or legal experts, offer a quick way to find reliable bond providers in your area.
Who Gets the Bid Bond in Florida? Behind the Reality
In our view, bid bonds in Florida primarily involve three parties:
- Principal (Contractor): The entity bidding on the project and providing the bond.
- Obligee (Project Owner): Typically a government body or private entity that requires the bond to ensure contract fulfillment.
- Surety: The bond company that guarantees payment to the obligee if the principal fails to fulfill their contractual obligations.
These roles are fundamental in safeguarding Florida's public infrastructure projects, ensuring accountability and risk management.
We provide bid bonds in each of the following counties:
Alachua
Baker
Bay
Bradford
Brevard
Broward
Calhoun
Charlotte
Citrus
Clay
Collier
Columbia
DeSoto
Dixie
Duval
Escambia
Flagler
Franklin
Gadsden
Gilchrist
Glades
Gulf
Hamilton
Hardee
Hendry
Hernando
Highlands
Hillsborough
Holmes
Indian River
Jackson
Jefferson
Lafayette
Lake
Lee
Leon
Levy
Liberty
Madison
Manatee
Marion
Martin
Miami-Dade
Monroe
Nassau
Okaloosa
Okeechobee
Orange
Osceola
Palm Beach
Pasco
Pinellas
Polk
Putnam
St. Johns
St. Lucie
Santa Rosa
Sarasota
Seminole
Sumter
Suwannee
Taylor
Union
Volusia
Wakulla
Walton
Washington
And Cities:
Miami
Tampa
Orlando
Fort Lauderdale
Jacksonville
Tallahassee
Key West
Miami Beach
Fort Myers
West Palm Beach
St. Petersburg
See our Georgia bid bond page here.
More on Surety Bid Bonds https://swiftbonds.com/bid-bond/.
Best Practices: Practical Advice When Considering Bid Bonds in Florida
From our experience, here are some best practices for navigating bid bonds:
- Research surety providers: Ensure you choose a provider familiar with Florida’s laws.
- Understand project requirements: Verify bid bond amounts required for specific projects.
- Prepare thorough financials: Sureties evaluate financial strength, so have your records in order.
- Be clear about timelines: Deadlines are strict in bid bond applications and project submissions.
What Is a Surety Bid Bond? The Facts You Need to Know
We’ve encountered many contractors asking what exactly a surety bid bond is. Simply put, it is a guarantee provided by a surety company on behalf of a contractor (the principal) to the project owner (the obligee) that if the contractor wins the bid, they will execute the contract and provide necessary performance bonds. In Florida, this bond ensures that public projects are completed without financial risk to the state or local governments.
How Does a Florida Bid Bond Work? Secrets Behind the Process
Based on our experience, here’s how the process typically works in Florida:
- Contractor submits a bid with a bid bond attached.
- Owner reviews bids and selects the winning bidder.
- If the bid is accepted, the contractor must fulfill the contract or the surety steps in to cover the cost (up to the bond’s value).
This process ensures that project owners in Florida avoid delays or additional costs due to defaulting contractors.
Uncovering the Application Process for a Florida Bid Bond
We’ve personally worked with contractors through the surety bond application process, and here are the key steps:
- Submit financial documents for the surety to evaluate your business’s financial health.
- Provide project details, including bid amounts and deadlines.
- Complete the bond application, which the surety will review for approval.
In Florida, ensuring accuracy in these steps is crucial to avoid delays in securing bid bonds for projects.
The Price of a Surety Bid Bond: Facts Revealed
In our dealings with Florida bid bonds, we’ve found that the cost usually ranges from 1% to 5% of the total bid amount. However, if a contractor has excellent financial standing, they might only pay a fraction of that percentage. The bond amount itself is typically based on the size of the project and the contractor’s risk profile.
Is There a Chance of Being Denied? Streamlining the Process
We’ve had the chance to work with contractors who were denied bid bonds, and here are the key reasons:
- Poor financial history or low credit scores can result in denial.
- Inexperience with similar projects might raise concerns with the surety.
- Incomplete documentation during the application process can delay or block approval.
It’s essential to stay prepared by maintaining strong financials and having prior project experience in Florida.
Concluding Thoughts: The Truth About Bid Bonds in Florida
From our observations, bid bonds are essential tools for ensuring public projects in Florida are completed on time and within budget. These bonds protect project owners from financial loss and encourage contractors to submit serious bids. By understanding the process, costs, and potential challenges of obtaining bid bonds, contractors can approach their bids with confidence, knowing they have the proper financial backing in place.
To get a performance bond in Florida go here, and this is our Florida probate bond page.
