1 (800) 308-4358
Mon-Fri 7am-7pm CST
  1. 1. Choose A State
  2. 2. Choose A Bond
  3. 3. Enter Your Contact Info
  4. 4. Receive Your Free Quote

Illinois Timber Buyer's Bond

How much will my timber buyer’s bond cost in Illinois?

Illinois timber buyer’s bond amounts vary and are dependent on the amount of money spent on timber plots in the previous year. Timber buyers must post a $500 surety bond if they purchased timber amounting to $5,000 or less in the previous year. The bond amount is increased by $100 for each additional $1,000 paid to timber growers, up to $10,000. The required bond amount for new timber buyers must be based on the estimated dollar amount for timber purchased in the next year and must be greater than $500.

Calculating your bond price can be confusing, which is why our experts do all of the hard work for you when you choose SuretyBonds.com. Contact a surety expert to receive a free, personalized bond quote!

Bond Type Bond Amount Cost by Credit Score*
680 and up 679 - 600 599 or lower
Timber Buyer's Bond Varies Starts at 1% 4-10% 10%+ Apply Now
*The bond premium rate quotes provided to you through this website are for pricing comparisons and quotation estimate purposes only. The bond rate quotes provided are based on general assumptions that may or may not be applicable to you and are subject to change at any time. These rate quotes do not constitute an offer of insurance, nor is any contract, agreement, or bond coverage implied, formed or bound by the provision of rate quotes. Bondability, final bond premium rate quotes and an offer of insurance, if any, will be determined by the insurance company providing your bond. You must contact us directly to obtain a quote for binding purposes.

If you’re ready to purchase a timber buyer’s surety bond, call SuretyBonds.com at 1 (800) 308-4358 or fill out our online bond request form.

Why do I need this bond?

A timber buyer is any person who is engaged in the business of buying timber from timber growers and then sawing it into lumber.

An Illinois timber buyer’s bond is mandated by the Illinois Department of Natural Resources for the protection of timber sellers. According to the Illinois Compiled Statutes (225 ILCS 735/5), it is unlawful for timber buyers to:

  • knowingly and willfully fail to pay, as agreed, for the timber purchased
  • cut or cause to be cut any timber without the grower’s consent
  • commit any fraudulent act in connection with the purchase or cutting of timber
  • fail to file the report or pay the fees required by the Act
  • resist or obstruct any officer, employee or agent of the Department

Want a quote for an Illinois timber buyer’s surety bond? Fill out our online bond request form now!

What’s the fine print?

Illinois timber buyer’s surety bonds are continuous until canceled. If the surety wishes to terminate the bond, 60 days’ notice prior to termination must be given to the state.

The state requires that the bond amount must double if the timber buyer has had a previous claim made against his or her bond.

How to become a timber buyer in Illinois

All Illinois timber buyers must be licensed. The license runs for a period of one year and must be renewed annually. A license will only be granted if the applicant:

  • purchases a surety bond in the correct amount
  • fills out an Illinois timber buyer’s license application
  • pays all fees
  • and more

If you have any questions, contact us now. We have surety experts standing by to answer any questions you might have and to walk you through our simple bonding process.

Ready to get started?

Get a FREE Timer Buyer’s Bond Quote Today!

2014 Timber Buyers License Application

Illinois Department of Natural Resources Timber Buyer’s Bond form

Illinois General Assembly Compiled Statutes Timber Buyers Licensing Act

Illinois Department of Natural Resources Timber Buyer Information

Free Shipping
30,000 Satisfied
Customers Nationwide
No Hidden Fees