California Aircraft Jet Fuel Dealer Bond
Learn the importance of this surety bond and find out how to easily get one!
What is a California Aircraft Jet Fuel Dealer Bond?
All persons desiring to become aircraft jet fuel dealers in the State of California must obtain this bond. As part of the aircraft jet fuel dealer permit requirements, this bond must be submitted to the California Department of Tax and Fee Administration along with the completed application form and registration fee among others.
This bond will ensure that the aircraft jet fuel dealer will promptly pay the necessary taxes due.
A tax is imposed on every aircraft jet fuel dealer at the rate of $0.02/gallon of fuel sold by the dealer to an aircraft jet fuel user or used by the aircraft jet fuel dealer as an aircraft jet fuel user.
As part of the bond condition, the aircraft jet fuel dealer is obligated to comply with the provisions of Part 2 of Division 2 of the Revenue and Taxation Code and Chapter 2 of Title 14 of Part 2 of the Code of Civil Procedure.
An aircraft jet fuel dealer is someone who provides the following services:
- Sells jet fuel to an aircraft jet fuel user.
- Delivers jet fuel to aircraft fuel tanks or storage facilities within the State of California.
This requirement is in accordance with Section 7396 of the California Revenue and Taxation Code.
How does a California Aircraft Jet Fuel Dealer Bond work?
The bond is a legal promise made by the Surety (the party who will issue the bond) to the Obligee (State of California) regarding the performance of the Principal (aircraft jet fuel dealer).
The Principal is required to perform the duties required of him or her in a lawful manner. The Obligee can file a claim if the Principal violates any of the bond’s conditions. The claim must be settled by the Principal first.
Under the bond’s conditions, the Surety will pay the claim if the Principal cannot do so. The Surety will first check the validity of the claim before making any payments to the Obligee. It’s the duty of the Principal to indemnify the Surety once the payment has been made.
How much does a California Aircraft Jet Fuel Dealer Bond cost?
The bond premium will range from 1% to 6% of the bond amount. Bond premiums will depend on the aircraft jet fuel dealer’s credit score.
The bond amount will be determined by the California Department of Tax and Fee Administration.
Check out what you need to pay by getting your FREE SURETY BOND QUOTE HERE!
How can I get a California Aircraft Jet Fuel Dealer Bond?
Just follow these simple steps:
STEP 1: APPLY FOR THIS BOND HERE!
STEP 2: An underwriter will take a thorough look at the following:
- Your financial strength
- Your job performance history
- Your credit score
STEP 3: You’ll be asked to sign the indemnity agreement once the underwriting process has been fulfilled. After that, your bond will be issued and sent to you!
Need to get your surety bond ASAP? APPLY NOW!