Florida Yacht & Ship Seller Bond Guide
If you wish to sell or broker yachts and ships in Florida, you'll need to purchase a surety bond. Read on to learn all about the license bonding process.
Bond Overview
- Purpose: To guarantee that brokers and salespersons will follow license regulations and properly apply funds
- Who Needs It: Licensed sellers or brokers of yachts and ships in Florida
- Regulating Body: The Florida Department of Business and Professional Regulation
- Required Amounts: $10,000 for salespersons, $25,000 for brokers
- Premium Rates: $175 for salespersons, $225 for brokers
What is a Florida yacht and ship broker/seller surety bond?
Chapter 326.004 of the Florida Statutes requires individuals who work as a yacht seller, yacht broker, ship seller, or ship broker in Florida to be bonded.
Florida yacht and ship salesperson or broker bonds ensure that principals (salespersons/brokers) comply with all provisions of the Yacht and Ship Brokers' Act and all rules and regulations made by the Florida Department of Business and Professional Regulation - Division of Florida Land Sales, Condominiums, Mobile Homes, Section of General Regulation. Specifically, the bond guarantees that brokers and salespersons will faithfully apply all funds given to them by consumers.
If the principal or any of their employees or agents fail to adhere to these terms, the bond protects consumers from financial loss up to the full bond amount.
Who regulates yacht and ship sellers and brokers in Florida?
The Florida Department of Business and Professional Regulation enforces license and bonding requirements for individuals who sell or broker yachts, ships, or boats in the state.
How much does a Florida yacht and ship salesperson or broker bond cost?
$10,000 Florida yacht and ship salesperson bonds cost $175 for a 2-year term. $25,000 Florida yacht and ship broker bonds cost a flat rate of $225 for a 2-year term. Buy your bond online in minutes today.
How fast can I get a yacht and ship seller or broker bond in Florida?
SuretyBonds.com offers instant Florida yacht and ship seller surety bond purchase and delivery 24/7. Just select your bond type, enter your information and checkout through our secure online portal. Purchase now to receive your official bond in minutes by email.
Watch the video below to learn more about Florida yacht and ship salesperson or broker licensing, including the surety bond requirement.
How do I update or change my yacht or ship surety bond?
If the Florida Department of Business & Professional Regulation requires your surety bond documentation to be updated for any reason, contact your surety provider. If you purchased your bond from SuretyBonds.com, email [email protected] to explain the needed change.
The most common changes for these bonds include:
- the seller or broker's name
- the term of the bond
How do I renew my ship seller/yacht broker surety bond?
The Department of Business and Professional Regulation requires Florida yacht or ship seller/broker bonds be issued for 2-year terms. You must renew your Florida surety bond before its current 2-year term expires. Once you pay your SuretyBonds.com renewal invoice, instructions will be provided to keep your bond active as required for your next Florida yacht and ship broker or seller license term.
How do you get your Florida yacht and ship broker or seller license?
Learn How to get a Florida Yacht and Ship Salesperson or Broker License by reviewing our comprehensive guide.
To become a licensed yacht and ship salesperson or broker in Florida, you must submit the following with your application packet.
- Initial application
- Florida surety bond in correct amount
- Fingerprint card
- $51 background check fee
- $500 application fee payable to DBPR - Division of Florida Condominiums, Timeshares, and Mobile Homes
- Information regarding any applicable Florida Employing Broker information
Submit all required application forms and documentation by mail.
Division of Florida Condominiums, Timeshares, and Mobile Homes
2601 Blair Stone Road
Tallahassee, FL 32399
More Resources
- Application for a Yacht and Ship Employing Broker, Broker or Salesperson’s License
- Florida Department of Business and Professional Regulation Division of Florida Condominiums, Timeshares and Mobile Homes Yacht and Ship Brokers: Licensing
- Florida Department of Business and Professional Regulation Division of Florida Condominiums, Timeshares and Mobile Homes Yacht and Ship Brokers: Enforcement
- Florida Statutes Title 24 Chapter 326 Yacht and Ship Brokers
