How much does a Virginia watercraft dealer bond cost?
Virginia watercraft dealer bond costs start at $50 for the state-required 1-year term. Your exact premium will be provided after a quick application review. Apply now to get your free, personal surety bond quote! Multi-year discounts are also available for qualified applicants who would like to extend their original bond term.
How do you obtain a Virginia watercraft dealer bond?
You can apply for your Virginia watercraft dealer bond online 24/7. You'll need to provide the following information for Department of Game and Inland Fisheries approval.
- dealer/dealership name
- business location address
- dealer license number, if available
Once your order has been processed, your official dealer bond documents will be shipped to your preferred mailing address.
How fast can I get a watercraft dealer bond?
Our industry-leading technology and excellent surety experts allow us to offer free quotes and deliver official Virginia watercraft dealer bonds faster than any other surety company. The Department of Game and Inland Fisheries requires your official surety bond be physically issued and shipped to you, so choose overnight shipping during checkout if you're in a rush. Orders placed by 4 PM CST Monday-Friday are typically shipped same-day.
If you have questions about the watercraft dealer surety bond or your application, call 1 (800) 308-4358 to speak with a friendly surety expert. We're here to guide you through the dealer bond process so you can get back to running your business.
What is a Virginia watercraft dealer bond?
Code of Virginia Section 29.1-810 requires watercraft dealers file a $5,000 surety bond with their state dealer license application. By filing the bond, a dealer agrees to operate their business according to the code of Virginia. The bond specifically prohibits dealers and their sales staff from committing fraud or making any fraudulent representation. If a watercraft dealer fails to work according to state law, the bond protects any person who suffers losses or damages resulting from the dealer’s fraudulent acts or other unlawful business practices. The issuing surety company will pay valid claims up to the full $5,000 bond amount, which the licensed dealer must then reimburse.
Who regulates licensing for watercraft dealers?
The Virginia Department of Game and Inland Fisheries Watercraft Dealer Licensing Staff enforces licensing requirements for watercraft dealers working in the state. You'll submit your watercraft dealer license application in the state's Online Watercraft Dealer Licensing System. If you have questions about the surety bond requirement or the status of your license, the state advises you call 1 (804) 367-1011 or email [email protected].
This bond is required for watercraft dealer licensing. If you plan to sell vehicles in the state, you need a separate Virginia motor vehicle dealer bond.
What are the surety bond conditions?
Watercraft dealer bonds don't expire with the dealer’s license. Instead, the bond continues each year as an agreement for each individual 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 at least 30 days before the effective termination date.
How do I update or change my watercraft dealer bond form?
If the Watercraft Dealer Licensing Staff requires your bond form 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 requested for this bond are:
- dealer/dealership name
- business location address
- dealer license number
When and how do you renew your dealer bond?
You must renew your Virginia watercraft dealer bond before its current 1-year term expires. Once you pay your SuretyBonds.com renewal invoice, renewal instructions will be sent to you to keep your bond active with the state.
How do I apply for my Virginia watercraft dealer license?
After you purchase and file a $5,000 surety bond, applicants must complete the steps below to get licensed.
1. Register for your license by creating an account on the Watercraft Dealer Licensing System.
2. Sign in and fill out your application.
3. Submit the required documents to the Watercraft Dealer Licensing Staff. Refer to this sheet for specific license type requirements.
Virginia Department of Wildlife Resources
Attention: Watercraft Dealer Licensing Staff
P.O. Box 90778
Henrico, VA 23228
4. Check your email regularly as this will be how you receive notification of application approval.
5. Pay your license fee after license approval through the secure online payment portal.
6. Print out your license after payment authorization.
