Contract Bonds
If you’re new to bonds, you’re in the right place. It’s confusing, we know. Why is the general contractor or owner of the project requiring a bid or payment and performance bond? What do I need to do to get bonded? All good questions and we have the answers. Since our company’s inception, we have assisted contractors throughout the State of Florida obtain their first surety bond, and have counseled in the growth of their program to where surety is no longer a hurdle, but a tool they use to grow their business, and separate themselves from their competition.In an effort to keep it simple, bid, payment & performance bonds are all forms of a guarantee. Bid bonds guarantee the contractor will enter into the contract if low or awarded. Payment bonds guarantee all subcontractors and suppliers are going to get paid, eliminating any lien issues for the general contractor or owner. And the performance bond guarantees the contract is going to be performed as per the specifications in the contract.

So how do our surety companies evaluate the potentially bonded contractor? Remember, the surety is guaranteeing the contractor is either entering into a contract (bid bond), paying all subcontractors and suppliers (payment bond) and guaranteeing the performance of the contract by the bonded contractor (performance bond)?Surety companies evaluate potential bonded contractors based on the three “C’s” of surety:

  • Character: Is the potentially bonded contractor of high integrity?
  • Capacity: Does the potentially bonded have the ability and experience to handle the contract?
  • Capital: Does potentially bonded contractor have the financial strength to handle the total backlog of work?

Although the surety pre-qualification process can be rigorous, we have a proved track record of success of taking non bonded contractors thru the grind of pre-qualification, and into multi-million dollar surety programs. Fill out our Contractor Questionaire to get going and email it to us and we will call and discuss how we can help protect you.

Commercial Bonds
Commercial surety includes surety bonds ranging from Auto Dealer Bonds to Financially Responsible Officer Bonds and County License Bonds. For the most part, any bond that is not used for construction or court proceedings is considered a commercial bond.

Smith Insurance & Bonds assists business’s who are required to have a bond in order to operate their business legally under Florida state or county guide lines.

Court Bonds
Court bonds including judicial and probate, are required in many court proceedings to ensure that a person is protected from possible loss as a result of the outcome of the proceeding. We provide aggressive rates for judicial and fiduciary bonds and our responsive and knowledgeable surety bond staff assists with the process to obtain these bonds.

License Bonds
Smith Insurance & Bonds provides Florida license surety bonds to those seeking a Florida commercial surety bond to fulfill a license requirement. Whether it’s the Florida Construction Industry Licensing Board requiring a Florida Contractors Surety Bond for a Division I or Division II applicant, or the Florida Department of Business and Professional regulation requiring a $100,000 Florida Financially Responsible Officer surety bond, our expertise assists you in moving your license process forward.

In addition, we provide Florida Department of Agriculture and Consumer Serves Florida agriculture surety bonds to Florida agriculture dealers and those in need of the Departments $50,000 Florida Telemarketing Surety Bond. The State of Florida Department of Highway Safety and Motor Vehicles requires all Florida auto dealers to have a $25,000 Florida auto dealer surety bond to operate as a dealer. This and all of these and many other Florida construction and non construction license surety bonds are prepared quickly, accurately and competitively priced.