Solid Waste Franchise Performance Bond - Osceola County, FL in Florida

Brief Summary

A solid waste franchise performance bond is what Osceola County holds to make sure a franchised hauler keeps collecting and keeps to the terms of its franchise. For the hauler, it replaces a large cash or letter of credit deposit with an annual premium, so capital stays in trucks and carts rather than sitting with the county.

Osceola County requires a performance bond from a hauler granted a solid waste franchise. The Board of County Commissioners of Osceola County is the obligee, and the bond guarantees that the hauler performs the collection services and other obligations of its franchise. The bond amount and form are set by the franchise agreement or county action, not by a published fee schedule, so the hauler should take both from its agreement before the bond is issued.

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How to Apply for a Solid Waste Franchise Performance Bond:

• Locate the bond section of your Osceola County franchise agreement or award.
• Confirm the bond amount, required form and delivery deadline with the county.
• Provide the hauler's legal name exactly as it appears on the franchise.
• Submit company financial statements and owner information for underwriting.
• Review the quoted premium and execute the bond on the county's required form.
• Deliver the bond to the county by the deadline in the agreement and keep it in force for the franchise term.

Detailed Information About the Florida Solid Waste Franchise Performance Bond:

The amount comes from your franchise, not a schedule

The most common mistake on this bond is looking for a standard figure. Franchise performance bonds are sized to the franchise itself, usually by the volume and value of the service being granted, and Osceola County sets the requirement in the franchise agreement or the county action that awards it. Read the bond section of your agreement first. It will state the amount, the form and when the bond must be delivered.

Who the bond protects

The obligee is Osceola County. The franchised hauler is the principal. If the hauler stops service, fails to meet the service standards in the agreement or leaves obligations unpaid, the county can claim against the bond to cover the cost of getting the work done and other losses the agreement allows, up to the bond amount. The surety then looks to the hauler for repayment.

Who provides collection today

The county's curbside collection page states that Osceola County partners with Waste Management for residential trash, recycling and yard waste collection in unincorporated Osceola County. Any hauler entering or renewing a county franchise should expect a performance bond to be part of the award.

Before you buy

Confirm the current bond amount, the required form and the delivery deadline with Osceola County Solid Waste before the bond is issued. Many agreements also require the bond to stay in force for the full franchise term and any renewal.

Eligibility and Requirements for a Florida Solid Waste Franchise Performance Bond:

• Board of County Commissioners of Osceola County, Florida named as obligee.
• Bond amount as set in the franchise agreement or county award.
• Hauler name matching the franchise exactly.
• Surety acceptable to the county under the agreement terms.
• Company financial statements, since franchise bonds are underwritten on financial strength as well as credit.

Florida Solid Waste Franchise Performance Bond FAQs:

Official and Additional Resources for the Florida Solid Waste Franchise Performance Bond: