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Florida Business Opportunity Surety Bond

What is a Florida Business Opportunity Bond?

  • The Florida Business Opportunity Bond is a surety bond that must be posted by any business opportunity seller that makes any representations set forth in Florida Statutes, Section 559.801(1)(a)3. From this Section that means that a bond must be posted by a seller that guarantees that the purchaser will derive income from the business opportunity which exceeds the price paid or rent charged for the business opportunity or that the seller will refund all or part of the price paid or rent charged for the business opportunity, or will repurchase any of the products, equipment, supplies, or chattels supplied by the seller, if the purchaser is dissatisfied with the business opportunity.
  • The surety bond shall not be issued in an amount less than $50,000.
  • Per Florida Statutes, a business opportunity is defined as the sale or lease of any products, equipment, supplies, or services, which are sold or leased to a purchaser to enable the purchaser to start a business for which the purchaser is required to pay an initial fee or sum of money which exceeds $500 to the seller, and in which the seller represents:
    • that the seller will provide locations or assist the purchaser in finding locations for the use or operation of certain equipment neither owned nor leased by the purchaser or seller;
    • that the seller will purchase any or all products made, produced, grown, etc. by the purchaser using the supplies, services, or chattels sold to the purchaser;
    • that the seller guarantees that the purchaser will derive income from the business opportunity which exceeds the price paid or rent charged for the business opportunity or that the seller will refund all or part of the price paid or rent charged for the business opportunity, or will repurchase any of the products, equipment, supplies, or chattels supplied by the seller, if the purchaser is dissatisfied with the business opportunity;
    • That the seller will provide a sales program or marketing program that will enable the purchaser to derive income from the business opportunity, except that this paragraph does not apply to the sale of a sales program or marketing program made in conjunction with the licensing of a trademark or service mark that is registered under the laws of any state or of the United States if the seller requires use of the trademark or service mark in the sales agreement.

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  • Florida Business Opportunity Surety Bonds are individually underwritten so the cost can vary and is dependent on the personal credit score of the applicant; sometimes, personal financials and business financials may be required depending on the credit standing and the business opportunity transaction. Customers with good credit scores could qualify for a rate as low as 1% of the bond amount. Of course, we will always provide you with the lowest rates available on the market. And can typically handle all credit types - from excellent to poor - as such those terms vary.
  • So for example, a $50,000 bond could cost as low as $500 for applicants with good credit scores.

Florida Business Opportunity Surety Bonds are required to be posted in order to ensure the Principal (business opportunity seller) follows the rules, regulations, and laws as prescribed in Florida Statutes, Sections 559.80-559.815, which are also known as the Florida Sale of Business Opportunities Act. The surety bond protects any consumer who is injured as a result of the Principal’s fraud, misrepresentation, breach of contract, or financial failure.

The Florida Department of Agriculture and Consumer Services (FDACS) is charged with regulating business opportunity sellers. The Department requires a surety bond to be posted in pursuant to Florida Statutes, Section 559.807. The Obligee on the bond is the State of Florida, Department of Agriculture and Consumer Services.

Florida Business Opportunity Surety Bonds run from the effective date and continue in full force until canceled. The bond may be canceled by the Surety by giving 30 days written notice to the Obligee. The bonding company will renew and bill for the bond on an annual basis.

Contact The ProSure Group. As surety bond experts in business in Florida since 1993, The ProSure Group has handled numerous bonds of this type and has partnerships with more than 30 different surety companies. This ensures that we get you the best, most competitive pricing and terms available in the marketplace. You just need to complete our simple application and one of our specialists will quickly contact you.

If you don't see the bond you're looking for give us a call at (800) 480-3883 and speak to one of our many
Florida Business Opportunity Bond Surety Bond Experts!
Type Bond Obligee Bond Amount
Miscellaneous Florida Business Opportunity Surety Bond State of Florida, Department of Agriculture and Consumer Services
Minimum $50,000