Florida Mobile Home Manufacturer Bond

Florida-Mobile Home Manufacturer Bond

The Florida-Mobile Home Manufacturer Bond is a form of financial guarantee that most mobile home manufacturers must obtain to operate legally in Florida. This bond (also known as a Mobile Home Manufacturer Bond or Manufacturer Bond) protects consumers and government agencies from fraudulent actions, contract breaches, or other issues related to mobile home manufacturers in Florida.

Key points to know about the Mobile Home Manufacturer Bond

License Requirement: In most U.S. states, including Florida, mobile home manufacturers must provide a bond as part of the licensing process to operate their business.
Consumer Protection: If a manufacturer breaks the law, provides false information, or violates consumer rights, customers or the state of Florida can file a claim against the bond for compensation.
Bond Amount: The bond amount can vary depending on the state and type of business. For mobile home manufacturers in Florida, this amount is typically $50,000. Manufacturers only pay a portion of this amount as a premium, similar to an insurance premium.
Manufacturer Obligations: Manufacturers must comply with all laws and regulations governing their industry. Failure to do so may lead to claims against the bond.

Thus, the Mobile Home Manufacturer Bond is a crucial tool for ensuring trust and protecting the interests of consumers and government entities.

What does a mobile home manufacturer do?

Mobile home manufacturing is a business that involves producing and selling mobile homes to individuals and businesses. These homes are often used as affordable housing options and can be sold directly or through dealers.

Example: Boris and his mobile home manufacturing business

Boris, an experienced entrepreneur, runs a successful mobile home manufacturing business in Florida. He designs and produces high-quality mobile homes for various customers. However, one day, Boris received complaints from clients who claimed that their homes were not built to state safety standards. The state of Florida initiated an investigation and found that Boris had violated building codes. As a result, a claim was made against his bond, and Boris lost his financial guarantee. He faced fines and a damaged reputation.

How much does a Mobile Home Manufacturer Bond cost in Florida?

The cost of the bond ranges from $500 to $1,250 per year. The standard rate is 1.00% to 2.50% of the bond amount, meaning that a $50,000 bond would cost approximately $500 to $1,250 annually.

Example: How Boris lost his bond

Boris, the mobile home manufacturer, failed to comply with the building standards, and his clients filed claims against his bond. As a result, he lost his bond and faced significant financial and legal consequences.

Frequently Asked Questions

How much does a Mobile Home Manufacturer Bond cost in Florida?

The cost varies from $500 to $1,250 annually, depending on the bond amount and the applicant’s credit history.

Do I need a bond to operate as a mobile home manufacturer in Florida?

Yes, a bond is required to obtain a license to operate as a mobile home manufacturer in Florida.

How can agents obtain a bond for mobile home manufacturers in Florida?

Agents can obtain a Mobile Home Manufacturer Bond in Florida through the personal account at this link.

You can find other bonds on our website.

Surety Bond Cost Breakdown — Get Approved and Pay Online in 2 Minutes. We are Surety bond producers and are business professionals who specialize in providing contract surety bonds to contractors.
Everything You Need to Know About the Surety Underwriting Process, we will be more than happy to assist you call or text us now 731-333-3366

Apply for bond online

Execution Notes
Bond must have an original signed Attorney in Fact signature.

Filing Method
Executed bond must be filed with the obligee by agent/principal.
You can choose any of these options; all the companies offer solutions that align with your theme.

RLI
Company Name Logo