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How much does a watercraft dealer bond cost in Virginia?
The Virginia Department of Game and Inland Fisheries requires watercraft dealers to post $5,000 surety bonds to legally do business in the state.
SuretyBonds.com offers Virginia watercraft dealer bonds for different costs depending on each applicant’s individual credit report. Bad credit? No problem! We can help you get the bond you need quickly, easily, accurately and for the lowest rate possible. Request a free bond quote now!
Call 1 (800) 308-4358 or submit a bond request now. We can typically provide free, no-obligation bond quotes within 1 day of submitting your application.
Why do I need this bond?
Virginia watercraft dealer surety bonds ensure that principals (dealers) conduct business according to the provisions of Chapter 8, Title 29.1 of the Code of Virginia. Prohibited acts under this bond include:
- willfully defrauding any retail buyer
- employing fraudulent devices, methods or practices
- using unfair methods of competition
- knowingly advertising any statement that is untrue, misleading or deceptive
- accepting forms of payment for watercraft sales without being a licensed watercraft dealer
- not maintaining accurate records of all sales and transactions
The bond protects any person who suffers loss or damage as a result of the dealer’s unethical and unlawful business practices.
Ready to get bonded? Request a free bond quote now!
What’s the fine print?
Watercraft dealer bonds in Virginia do not automatically expire with the dealer’s license. Instead, the bond continues indefinitely from year to year as a new and separate obligation for each license term.
The surety can cancel the bond at any time by giving written notice to the Director of the Department of Game and Inland Fisheries 30 days prior to the effective termination date.
How to become a watercraft dealer in Virginia
In addition to posting a $5,000 surety bond, applicants must do the following to become licensed in Virginia:
- register on the Watercraft Dealer Licensing system
- log in and complete the application(s)
- mail or fax the required documents to the Department in Richmond, Virginia
- receive electronic notification of application approval
- pay for and print license
All individual salespeople at the dealership must also be licensed.
Complete licensing information can be accessed from the Additional Resources section of this page. Don’t let getting a surety bond slow down the licensing process. Our experts will get you the surety bond you need quickly and easily. Get started now!