Bonds in Florida Law
A bond is a financial guarantee instrument used throughout Florida's legal system to secure obligations, guarantee performance, and protect parties from potential losses in litigation, construction, and commercial transactions.
Litigation Bonds
Florida courts require bonds in various proceedings: appeal bonds to stay judgment enforcement during appeals, injunction bonds to protect parties from wrongful injunctions, and attachment bonds to protect debtors from wrongful prejudgment seizure. Bond amounts are set by the court based on the potential harm to the opposing party.
Construction Bonds
Florida public projects over $200,000 require performance and payment bonds under Section 255.05. Performance bonds guarantee project completion; payment bonds guarantee that subcontractors and suppliers receive payment. These bonds are issued by licensed surety companies and provide critical financial protection for project owners and the construction supply chain.
Related Terms
Barnes Walker Business Law
Barnes Walker handles bond requirements and surety disputes in Florida. Contact us for guidance.
Reviewed by the attorneys at Barnes Walker, Goethe, Shea & Robinson, PLLC