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How much does an agricultural products dealer bond in Florida cost?
The Florida Department of Agriculture and Consumer Services requires agricultural products dealers to post surety bonds in varying amounts. The required bond amount must be twice the dollar value of business done in Florida during the month in which the highest volume of agricultural products were bought or handled. The bond amount must be between $5,000 and $100,000.
These bonds are subject to underwriting, which means that the price an applicant pays for the bond is determined by the required bond amount and a review of his or her personal credit report. Our surety professionals will tell you exactly how much you’ll pay for your bond when you complete a bond request today!
Our team of surety specialists works personally with you to get you bonded quickly and for the lowest price possible. Apply for a free bond quote or call 1 (800) 308-4358 to begin our fast and easy bonding process.
Why do I need this bond?
By posting a Florida agricultural products dealer surety bond, principals (agricultural products dealers) pledge to never impose false charges for services in connection with agricultural products, make fraudulent sales, or intentionally make false statements regarding the grade, conditions, markings, or quality of goods. This particular bond also ensures that principals make all necessary payments to the producers they obtain their products from.
If the principal fails to follow the rules of the bond contract and state, industry, and consumers are harmed as a result, the surety will reimburse the harmed parties for any damages up to the full bond amount. The agricultural products dealer, in turn, must repay the surety for all damages paid out.
Ready to purchase your Florida agricultural products dealer bond? Connect with a surety professional, who will walk you through our fast and easy bonding process!
What’s the fine print?
Florida agricultural products dealer bonds run continuously in full force and effect as long as the applicant remains compliant with all rules and regulations stated in the bond contract. The applicant must specify on the form whether he or she is applying for the bond as an individual, partnership, corporation, or LLC.
How to become an agricultural products dealer in Florida
It’s against the law to act as an agricultural products dealer in Florida without first obtaining a license issued by the the Commissioner of the Florida Department of Agriculture and Consumer Services. To become a licensed dealer, applicants must file a completed license application with the commissioner, post a surety bond, and pay all filing fees. Applicants should be sure to specify the types of agricultural products they intend to handle on the license application form.
Have more questions about Florida agricultural products dealer bonds? Contact our team of bond specialists now! Wen can typically provide your free bond quote within one business day of submitting your application.