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Florida Bid Protest Bond
Paving roads, building schools, designing a new baseball field, and handling graphic design for city council websites all fall under the umbrella of government projects. Before local, state and federal government entities start a project, they must accept bids for the services they need provided. In the event a bidder feels the bidding process did not adhere to rules and regulations, they may protest the bid.
Bids can be protested for any number of reasons, including the lowest bid not being accepted. The reason for protest may be well founded and justified, but if the agency requires a bid protest bond and your protest does not meet that mandate, the protest will not be heard. A bid protest bond ensures the protest is founded and not a tactic to delay work. Not every state requires a bid protest bond; however, several do including Florida Bid Protest Bond require.
The bid protest requirements vary by state and by agency. Typically, the surety bond is filed directly with the government agency in question rather than through the court system. Before placing a bid on a project, it is good to review the agency’s protest policy. In Florida, bid challenges are under a 72-hour deadline after the agency publishes the bid winner. Jurisco can approve and write a bid protest bond in that deadline, but it is important to plan ahead.
Businesses and individuals who bid on government projects may want to talk to a surety bond expert at Jurisco about their options if a bid isn’t accepted. If you are bidding on a project in a state other than Florida, Jurisco is a nationwide surety bond provider so we can help in every state. Our bonding professionals have years of experience working with bid protest bonds and are here to offer you their assistance.