Florida Equipment Interchange Agreement Bond

Florida Equipment Interchange Agreement Bond

A shipper, also called a trucker or a drayman, handling trailers and containers that move to and from the Florida East Coast Railway Company (FEC) must enter into an Equipment Interchange Agreement with the FEC. A condition of the agreement is that a $10,000 Equipment Interchange Agreement Bond is required of the applicant.

APPLY FOR YOUR BOND

Jet Insurance Company provides the Equipment Interchange Agreement Bond as a financial guarantee for the Florida East Coast Railway Company that the shipper will follow all rules and requirements when using the company’s railway infrastructure, equipment, and services. If the shipper fails to pay all service fees due and/or causes damages to the FEC’s property, the surety bond may be used as a means of restitution.

What Is the Cost for the FEC Equipment Interchange Agreement Bond?

At Jet, prices for the Equipment Interchange Agreement Bond are a small percentage of the $10,000 limit and are based on the credit score of the applicant. Further information regarding your business (e.g. financial statements) may also be needed. To get started, simply select the “Apply for Your Bond” button above!

The Florida Equipment Interchange Agreement Bond Process With Jet

Jets application for the Florida Equipment Interchange Agreement Bond is online and can be completed quickly. To begin, the application will ask for some general information such as your contact details and social security number for a soft credit check (this process won’t affect your score).

Once submitted, a Jet underwriter will quickly review your application. Approved rate options will then be sent to your email so you can purchase right then and there. All you need to do is choose a monthly, annual, or multi-year payment plan and fulfill the premium due. You’ll receive a copy of your receipt and bond form as soon as the payment goes through.

Once you have purchased your surety bond, Jet will appropriately sign, seal, and send the bond form your way. It will then be up to you to sign the bond and submit it to the FEC with any other required paperwork at the address below.

Florida East Coast Railway Company
Administrative Assistant
1 Malaga Street
St. Augustine, FL 32084

If you need to cancel your Equipment Interchange Agreement Bond at any time, please send a written cancellation request to us at [email protected]. Once received, our team will send a termination notice to the FEC, and liability of the bond will be released within a 60-day period.

How Can Florida Equipment Interchange Agreement Bond Claims Be Avoided?

According to the Equipment Interchange Agreement Bond form, the Florida East Coast Railway Company expects shippers to simply pay all service fees on time and in full. Also, if damages are caused to any FEC infrastructure or equipment, the shipper must pay for the FEC to fix such damages.

These rules and regulations sound easy enough to follow, however, things can go wrong. If you commit a violation and are unable to or refuse to resolve the matter, the FEC can file a claim on your surety bond for restitution.

If you receive notice of an official claim from the FEC, contact Jet as soon as possible. Our team will ask that you supply us with all available information and documentation regarding your case. These details are used for our own review and investigation of the alleged violation.

As for claims that are justified, Jet is legally obligated per the Equipment Interchange Agreement Bond form to make payment up to the bond’s limit. You, the bondholder, must then reimburse Jet for the claim payout that was made on behalf of your transgression(s). This is because the bond is essentially an extension of credit, which if used, must be paid back. Failure to do so can result in future trouble obtaining a new surety bond in the State of Florida, which is specifically required when working with the FEC as a shipper.

Florida Equipment Interchange Agreement 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: