Palm Beach County Contractor License Bond
Is your construction business registered to do business anywhere in Palm Beach County, Florida, or in any of its municipalities? If so, you must carry a License Bond. Renew it before September 30th each year.
A License Bond is a guarantee of payment. The insurance company, usually called the Surety, pays a third party, usually called the Obligee. The payment is owed because of the actions of the business or individual that purchased the bond, usually called the Principal. The Surety pays when the terms of the bond are triggered.
In Palm Beach County, the bond responds against “All Loss, Costs, Expenses or Damages Occasioned by the Negligence of Said Principal in Failing to Properly Execute All Work Done by Him or His Employees, or Under His Direction or Supervision.” It pays up to the limit of the bond.
The limit of the Palm Beach County Contractor License Bond depends on the type of contractor getting the license.
We at Dopazo Insurance know how valuable your time is. That is why we’ve partnered with technology that lets you quote and issue your bond quickly and easily. You can do it 24/7, from anywhere you are.
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