Objectives of the Bond Guarantee

The bond guarantee minimizes the risk taken by a surety and provides a solid financial foundation to inexperienced or immature DBEs who do not meet the traditional bonding requirements of the surety industry. Based on a specific annual appropriation, the Department provides a bond guarantee on department contracts of up to ninety percent (90%) of a bond provided by an approved surety in the amount of $250,000 or less and eighty percent (80%) of a bond amount in excess of $250,000. Bond Guarantees are offered to support FDOT DBEs by removing or lowering the risks of the surety. Bond guarantees are offered on a first come first serve basis. Furthermore, project monitoring and technical assistance is provided to all DBEs receiving a bond guarantee.

BOND REPORT