Florida Agricultural Products Dealer Bond

Florida Agricultural Products Dealer Bond

Dealers of agricultural products (e.g. any agricultural commodity or product that is marketed for human or livestock consumption) within the state must be licensed as such with the Florida Department of Agriculture and Consumer Services (FDACS). To be eligible for licensure, and to maintain it, an Agricultural Products Dealer Bond is required. 

QUOTE

Jet Insurance Company provides the Agricultural Products Dealer Bond to act as a financial assurance for the Florida Department of Agriculture and Consumer Services that the dealer will follow all license regulations, which includes accurately making payments to the producers of such agricultural products that are sold by the dealer. If a dealer fails to pay for products, the FDACS may file a bond claim on behalf of the damaged producer to cover their financial losses. 

How Is the Bond Amount and Cost of the Agricultural Products Dealer Bond Determined?

According to the Florida Department of Agriculture and Consumer Services, the bond limit for the Agricultural Products Dealer Bond must be equal to twice the dollar amount of sales that occurred during a month in which the maximum volume of agricultural products had been handled by the dealer. The bond amount cannot be less than $5,000 and no more than $100,000.

At Jet, the cost of the Agricultural Products Dealer Bond is a small percentage of the bond limit and varies based on the personal credit score of the dealer. For instance, if you are seeking up to a $10,000 bond limit, prices start at $100 for a one-year term.  

For additional bond amounts and Jet’s preferred tier rates, take a look at the price chart below.

Bond LimitCost
Up to $10,000$100
$20,000$200
$50,000$500
$100,000$1,000
FL Agricultural Products Dealer Bond Prices

For bond limits over $15,000, an underwriter may need to review the submission and require additional information before offering a bond rate from Jet.

What Is the Purpose of a Florida Agricultural Products Dealer Bond?

Licensed dealers work with producers of agricultural products (as well as their agents and representatives) by buying, handling, and selling such products to third parties. To ensure that agricultural products dealers are following the regulations of their license and properly paying producers for products sold, the Florida Department of Agriculture and Consumer Services requires dealers to obtain an Agricultural Products Dealer Bond.

In cases where a dealer fails to properly pay a producer for any agricultural products sold, the producer may file an official complaint with the FDACS Complaints must be filed within six months of the sale or delivery of the agricultural products in question. 

If it is determined that the complaint is valid, the FDACS may file a claim on the licensee’s Agricultural Products Dealer Bond on behalf of the claimant. The bond will then act as a means of restitution for the financial losses incurred by the damaged producer.

Overall, the purpose of the Agricultural Products Dealer Bond is to protect producers from fraudulent actions that may be committed by an agricultural products dealer.

How to Apply for the Agricultural Products Dealer Bond With Jet

Jet’s application for the Agricultural Products Dealer Bond can be completed online. To begin, fill out the required information (e.g. contact details, social security number, and bond limit needed). Once submitted, you will either receive an approved price or a Jet underwriter may need to conduct a quick review of your info. You’ll then receive approved rate options via the email address provided. Simply complete the payment due and you’ll receive a copy of your receipt and bond form instantly.

How Does the Agricultural Products Dealer Bond Get Filed With the FDACS?

The Jet team can file your surety bond for you at no extra cost! However, if you would prefer to file the bond yourself, perhaps with your completed Application for Agricultural Products Dealer License, you may select the option to do so at check out.

The original signed and sealed Agricultural Products Dealer Bond must be submitted to the Florida Department of Agriculture and Consumer Services at the mailing address listed below.

Florida Department of Agriculture and Consumer Services
Bureau of Agricultural Dealer’s Licenses 
407 South Calhoun Street, Suite 208 Mayo Building, M-38 
Tallahassee, Florida 32399

For further details on the ins and outs of the licensure process, take a look at the FDACS’s Agricultural Dealer’s Licenses webpage.

Does the Florida Agricultural Products Dealer Bond Expire?

Agricultural products dealer licenses and surety bonds are only good for one year with the Florida Department of Agriculture and Consumer Services. This means your Agricultural Products Dealer Bond will expire one year from its initiation date. 

If you are interested in continuing your career as an agricultural products dealer, you will require a new license and bond for each separate license year. Luckily, Jet will already have all your info on file, so if you need a new Agricultural Products Dealer Bond, you can email [email protected] or call 855-296-2663 and we’ll help you out right away!

Florida Agricultural Products Dealer Bond Form

Notary Bond Application:

X

Business Information:

Indemnity Agreement:

I, the undersigned, hereby apply for a Dishonesty Bond also known as a Business Service Bond or Janitorial Service Bond (“bond”) to the Surety Company (“SURETY”) through Jet Insurance Company (“JET”), with whom I hereby grant the authority to act on my behalf with respect to the bond and assign as my Broker of Record, and declare that the statements herein are true and correct. In consideration of the SURETY issuing, renewing or substituting said bond(s), I, individually and as the owner or officer of the bonded entity, hereby understand and agree, as follows: (i) to reimburse, hold harmless, and indemnify SURETY upon demand for all loss, liability, claim, expense, including but not limited to attorneys’ fees, expert’s fees, investigative fees and claims handling fees, and any other cost which SURETY shall pay or incur in defense, adjustment, or settlement of such claims/suits by reason of such suretyship; (ii) that an itemized statement of loss and expenses by SURETY shall be indisputable proof of my liability to SURETY; (iii) coverage is subject to a $100 deductible; (iv) the employee must be convicted before coverage will apply (v) performance and any form of dispute resolution of this agreement shall take place in the county of SURETY's office of service; and (vi) a facsimile copy or electronically signed version of this agreement shall be binding as if it were an original. This agreement shall survive any changes in, substitute to or renewal of the bond(s).

Required Effect Date of Bond Policy:

Contact Information:

Employee Dishonesty Bond Application:

Business Information:

Business Description:

Coverage Requirements:

Indemnity Agreement:

I, the undersigned, hereby apply for a Dishonesty Bond also known as a Business Service Bond or Janitorial Service Bond (“bond”) to the Surety Company (“SURETY”) through Jet Insurance Company (“JET”), with whom I hereby grant the authority to act on my behalf with respect to the bond and assign as my Broker of Record, and declare that the statements herein are true and correct. In consideration of the SURETY issuing, renewing or substituting said bond(s), I, individually and as the owner or officer of the bonded entity, hereby understand and agree, as follows: (i) to reimburse, hold harmless, and indemnify SURETY upon demand for all loss, liability, claim, expense, including but not limited to attorneys’ fees, expert’s fees, investigative fees and claims handling fees, and any other cost which SURETY shall pay or incur in defense, adjustment, or settlement of such claims/suits by reason of such suretyship; (ii) that an itemized statement of loss and expenses by SURETY shall be indisputable proof of my liability to SURETY; (iii) coverage is subject to a $100 deductible; (iv) the employee must be convicted before coverage will apply (v) performance and any form of dispute resolution of this agreement shall take place in the county of SURETY's office of service; and (vi) a facsimile copy or electronically signed version of this agreement shall be binding as if it were an original. This agreement shall survive any changes in, substitute to or renewal of the bond(s).

Required Effect Date of Bond Policy:

Contact Information:

Contract Bond Application:

X

Business Information:

Owner Information:

Job Details:

Indemnity Agreement:

I, the undersigned, hereby apply for a Dishonesty Bond also known as a Business Service Bond or Janitorial Service Bond (“bond”) to the Surety Company (“SURETY”) through Jet Insurance Company (“JET”), with whom I hereby grant the authority to act on my behalf with respect to the bond and assign as my Broker of Record, and declare that the statements herein are true and correct. In consideration of the SURETY issuing, renewing or substituting said bond(s), I, individually and as the owner or officer of the bonded entity, hereby understand and agree, as follows: (i) to reimburse, hold harmless, and indemnify SURETY upon demand for all loss, liability, claim, expense, including but not limited to attorneys’ fees, expert’s fees, investigative fees and claims handling fees, and any other cost which SURETY shall pay or incur in defense, adjustment, or settlement of such claims/suits by reason of such suretyship; (ii) that an itemized statement of loss and expenses by SURETY shall be indisputable proof of my liability to SURETY; (iii) coverage is subject to a $100 deductible; (iv) the employee must be convicted before coverage will apply (v) performance and any form of dispute resolution of this agreement shall take place in the county of SURETY's office of service; and (vi) a facsimile copy or electronically signed version of this agreement shall be binding as if it were an original. This agreement shall survive any changes in, substitute to or renewal of the bond(s).

Required Effect Date of Bond Policy:

Contact Information:

Worker's Compensation Application:

X

Business Information:

Business Description:

Coverage Requirements

Indemnity Agreement:

I, the undersigned, hereby apply for a Dishonesty Bond also known as a Business Service Bond or Janitorial Service Bond (“bond”) to the Surety Company (“SURETY”) through Jet Insurance Company (“JET”), with whom I hereby grant the authority to act on my behalf with respect to the bond and assign as my Broker of Record, and declare that the statements herein are true and correct. In consideration of the SURETY issuing, renewing or substituting said bond(s), I, individually and as the owner or officer of the bonded entity, hereby understand and agree, as follows: (i) to reimburse, hold harmless, and indemnify SURETY upon demand for all loss, liability, claim, expense, including but not limited to attorneys’ fees, expert’s fees, investigative fees and claims handling fees, and any other cost which SURETY shall pay or incur in defense, adjustment, or settlement of such claims/suits by reason of such suretyship; (ii) that an itemized statement of loss and expenses by SURETY shall be indisputable proof of my liability to SURETY; (iii) coverage is subject to a $100 deductible; (iv) the employee must be convicted before coverage will apply (v) performance and any form of dispute resolution of this agreement shall take place in the county of SURETY's office of service; and (vi) a facsimile copy or electronically signed version of this agreement shall be binding as if it were an original. This agreement shall survive any changes in, substitute to or renewal of the bond(s).

Required Effect Date of Bond Policy:

Contact Information: