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How much does an aircraft dealer surety bond cost in Arizona?
The Aircraft Registration Unit of the Arizona Department of Transportation requires the state’s aircraft dealers to file a $10,000 surety bond. Premiums are calculated on an individual basis pending an underwriting review. Dealers with strong financial credentials can expect to pay a premium that’s just 1% of the bond amount, or approximately $100.
Ready to get bonded? Connect with our team of experts now!
If you’re ready to be bonded, give SuretyBonds.com a call today at 1 (800) 308-4358 or fill out our online bond request form. You’ll be contacted right away by an expert surety specialist who will provide you with a free, no-obligation bond quote within one business day!
Why do I need this bond?
Arizona aircraft dealer surety bonds prevent aircraft dealers from conducting unlawful sales or failing to file tax records, interest payments, penalties and other related fees in a timely fashion. This specific bond type also acts as a guarantee to customers that the aircraft dealer will honor all sales contracts and won’t violate any terms of sales agreements. These laws and more are all stated in the Arizona Revised Statutes, Title 28 - Chapter 25.
If you’re ready to get bonded, fill out our online bond request form to receive your free surety bond quote. Our surety experts’ unparalleled knowledge of these bonds will help you get the bond you need quickly, easily and accurately.
What’s the fine print?
Arizona aircraft dealer surety bonds are continuous until canceled. In the event the surety decides to cancel this bond, 60 days notice prior to cancellation is required.
All aircraft must be registered in Arizona prior to any sale. The type of aircraft is necessary for this process and must be noted on all appropriate forms. If a person is found guilty of violating their bond contract or any of the provisions of the Arizona Revised Statutes, Title 28 - Chapter 25, they are guilty of a class 6 felony.
How to become an aircraft dealer in Arizona
Once a principal (aircraft dealer) has been bonded, he or she can apply for an Arizona license for aircraft dealing. Upon filing for this license with the state of Arizona, aircraft dealers must:
- know their surety bond number
- appoint a business contact for the state to communicate with
- have their licensing application notarized
You must post a surety bond in order to get a business license, and the experts at SuretyBonds.com can help. Submit a bond request today to get the bond you need!