What a supply bond is
A supply bond guarantees a supplier will deliver materials or equipment as the contract says. Public agencies and project owners use them on large supply contracts.
In Florida
Florida's public works bond law, Fla. Stat. § 255.05, covers construction and repair of public buildings and works, not supply-only purchases. Supply bonds are set by the buying agency in the bid or contract.
You need this bond if you're
- A material supplier on a public contract
- An equipment vendor or manufacturer
- A distributor supplying a large private project
What the surety looks at
Your business, credit and the supply contract. Large contracts can need financial statements.