The Bond Guarantee Program

About BGP

This voluntary program is a vehicle used to implement financial counseling and bonding assistance to those Disadvantaged Business Enterprises (DBEs) certified by FDOT, who fail to meet the minimum standards set by traditional surety bonding and financial institutions. A ninety percent (90%) guarantee will be available and awarded for FDOT contracts $250,000 or less and an eighty (80%) guarantee of those contracts over $250,000, based on available funds. Bond Seminars are conducted annually around the state in the areas served by the CMDP-BGP. In addition, overhead audits are another special service provided to Pre-qualified firms performing on FDOT Professional Services contracts. This one time overhead audit is conducted free of charge.

The components of the BGP are:

• Bonding Principles Seminars
• Bond Application Packaging
• Bond Guarantees
• Financial Reporting Assistance - Overhead Audits