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How much does a home medical equipment provider bond cost in Florida?
The Florida Agency for Health Care Administration requires home medical equipment providers to post $50,000 surety bonds prior to conducting business.
Current business financials and a personal financial statement might be required for surety underwriting companies to produce this bond, so having these documents handy could expedite the bonding process. Request your free surety bond quote now!
Begin the bonding process by calling 1 (800) 308-4358 or submitting a bond request. Our surety professionals can typically provide free, no-obligation bond quotes within one business day of submitting your application.
Why do I need this bond?
By posting a Florida home medical equipment provider bond, principals (home medical equipment providers), their agents, and their employees pledge to abide by the provisions set forth in 400.934 of the Florida Statutes. If the principal fails to comply with these terms and fails to pay any sums that become due to the agency, the bond protects harmed parties from financial loss up to the full penal sum of the bond.
What’s the fine print?
Home medical equipment provider bonds in Florida remain in full force and effect for one year until and unless the bond is terminated and canceled or the principal’s license expires.
The agency can terminate the bond by giving written notice of cancellation to the surety at least 60 days prior to the effective termination date.
The surety can terminate the bond by giving written notice of termination via certified or registered mail to both the principal and the agency at least 60 days prior to the effective termination date.