What is a Florida Agriculture Products Dealer Bond?
Start selling farm products by obtaining this surety bond!
You need this surety bond if you are a dealer who is handling or will handle the following agricultural products for a Florida producer:
- Natural products of the apiary, farm, grove, vineyard, nursery, and garden
- Fruit of the saw palmetto
- Poultry and poultry products
- Milk and milk products
- Other nonexempt agricultural products produced in Florida
To ensure that dealers will perform their duties by the relevant state laws and rules including paying the Florida producers on time, the Florida Department of Agriculture and Consumer Services mandates them to submit a surety bond.
The surety bond is part of the requirements for dealers who will be applying for a license. Failure to promptly pay the Florida producers or any General Agricultural Laws of the Florida Statutes violation will be a ground for a bond claim.
What is the Agriculture Products Dealer Bond amount?
The bond amount will differ per license applicant and will be determined by the Commissioner of Agriculture and Consumer Services of the State of Florida.
New License Applicant – the bond amount should be equal to the estimated amount of agricultural products that will be handled for a Florida producer for a 12-month period.
License Renewal – the bond amount should be a number of agricultural products handled for a Florida producer from the previous 12 months – during the months of the maximum transaction.
However, the bond amount should not be lower than $5,000.
Once you have determined your bond amount, you may get a tailored quote from us to know your bond premium!
How can I get an Agriculture Products Dealer Bond?
STEP 1: Apply for the bond
You need to submit a bond application to us. If you’re ready to apply now, you may do so HERE!
STEP 2: Underwriting
We will ask you for a couple of important information needed for the bond. This will include your financial history, business performance history, and your credit score. An underwriter will carefully evaluate all those.
STEP 3: Bond execution
Once the underwriter is done with the underwriting process, we will immediately issue the bond and send it to you!
What are the surety bond conditions?
- The surety who will issue the bond should be recognized to conduct such business in the State of Florida
- The Obligee of the bond should be the Commissioner of Agriculture and Consumer Services of the State of Florida
- The licensed dealer should comply with the provisions of Chapter 604 of the Florida Statutes, as well as the rules and regulations of the Florida Department of Agriculture and Consumer Services
- If the licensed dealer defaults on his or her obligations, the aggrieved party will be eligible to recover the amount on the surety bond up to its penal sum
Get your bond immediately! APPLY HERE!