There are certain bid protests that require the protestor to file a bid protest bond with the bid protest in Florida. See F.A.C. 28-110.05. Failure to file the bid protest bond will result in the dismissal of the protest. Id.
For example, educational facilities (school boards or college or university board of trustees) can require bid protestors to post a bid protest bond in the amount of:
- Twenty-five thousand or 2 percent of the lowest accepted bid, whichever is greater, for projects valued over $500,000; and
- Five percent of the lowest accepted bid for all other project.
Florida Statute s. 255.0516. The bid protest bond needs to be conditioned upon payment of all fees and costs adjudged against the bid protestor in the administrative bid protest proceeding. Id.
Bid protest bonds are also required for Florida Department of Transportation bid protests. See Florida Statute s. 337.11 (requiring the bid protest bond to be conditioned on costs excluding attorney’s fees and setting forth how the amount of the bid protest bond is to be determined).
A copy of a bid protest bond form can be found in Rule 28-110.05 of the Florida Administrative Code.
Please contact David Adelstein at [email protected] or (954) 361-4720 if you have questions or would like more information regarding this article. You can follow David Adelstein on Twitter @DavidAdelstein1.