The City of West Palm Beach surety bond requirements are not heavily publicized and may not always be enforced, but if you are reading this then you have been told to obtain one and we can help. Jet Insurance Company can provide surety bonds in minutes, just click the link below to get your bond.
Surety bonds, whether for a license or permit, are used by cities like West Palm Beach as financial security to protect the City from damages arising from the negligence and/or violation of city ordinances or permit stipulations. Most often, the principal (person who is required to hold the bond) will take care of their mistakes. Surety companies are there in case they do not.
Jet offers license bonds and permit bonds that businesses have needed in the past with the City of West Palm Beach, found within the West Palm Beach Municipal Code. Some of those bonds include:
The cost of the bond is a small percentage of the bond limit which West Palm Beach determines by evaluating an appropriate amount to cover possible damages caused by the licensed or permitted activity.
With Jet Insurance Company, bonds can be purchased online in minutes and in most cases at $100 for a year or $10 monthly. For bonds with larger limits, we have to do a bit more underwriting, and prices will vary based on the personal credit of the applicant. For more complex and larger operations financial statements may be required.
Bond Limit | Monthly Cost | Annual Cost |
---|---|---|
$10,000 | $10 | $100 |
$25,000 | $13 | $125 |
Please note that for certain permit bonds a monthly option will not be available.
Bonds must be filed with the City; Jet will send a digital copy of the bond when the City allows it. However, it is more likely that Jet will send a sealed bond to you for your signature and you will have to deliver the bond to the required party. The Cities address is as follows, but may not necessarily be where you need to deliver the bond:
City of West Palm Beach
401 Clematis Street
West Palm Beach, FL 33401
If your operations continue after a year and the bond is still required, then you will have to renew the bond. Jet will send you a notice well in advance about the bond’s expiration date and all we need is payment to renew the bond. Unless, of course, you purchased a monthly or multi-year bond. On our monthly plan, the bond stays active so long as payments are made. Two- or three-year bond terms need to be renewed once the original term expires.
To cancel your bond, email [email protected] and Jet will request cancellation from the City. In some cases, Jet cannot fully cancel the bond (and return premium) until the City releases the surety company.