Florida State Park Concessionaire Bond

Florida State Park Concessionaire Bond

The Florida Department of Environmental Protection (DEP) requires organizations who operate as concessionaires for State parks to make a security deposit in the form of a bank letter of credit or a surety bond. Considering the fact that the surety bond is easier to obtain and less expensive, we will explain more about it here for those pursuing that option.

APPLY FOR YOUR BOND

The surety bond is a financial tool to protect the DEP from damages resulting from the concessionaire’s inability to conform with their agreement with the DEP. More likely it is a way for the DEP to guarantee they receive their fees when the concessionaire defaults.

How Is the Cost Determined for the Concessionaire Surety Bond?

The Department of Environmental Protection will set a security deposit amount it deems appropriate for the concessionaire’s operation. The surety bond’s limit is set at that security deposit amount. The cost for the surety bond is just a small fraction of the bond limit. 

The price of the bond will vary depending on the personal credit of the concessionaire owner and may also be based on the type of business performed, personal financial statement, and business financial statements. The higher the set bond limit the more information Jet will need to determine eligibility and rate. Typically, Jet Insurance Company’s rate falls around 1-5% of the bond limit for a concessionaire in Florida parks.

The Florida State Park Concessionaire Bond Process With Jet

To start, complete our online application by clicking on the button above or call (855) 296-2663. We will gather some basic information (such as required bond limit, address, contact information, etc.) and determine whether personal or business financial statements will be required to complete our underwriting. 

Once an underwriter has determined whether the concessionaire is eligible and for what rate, an email will be sent with a link to purchase the bond. Jet offers monthly rates in addition to annual bond terms. 

After the purchase is complete, a copy of the bond will be available to file with the DEP. Jet can handle this for the concessionaire or they can submit the bond themselves. Either way is fine so long as it gets to the following address:

Florida Department of Environmental Protection
3900 Commonwealth Blvd.
Tallahassee, FL 32399-3000

Renewing the Bond

If the concessionaire selected the monthly option, the bond remains active so long as payments go through. Once a year the Department of Environmental Protection will review the deposit amount. If there is an increase or decrease to the deposit amount, Jet must be notified immediately. We will need to file the appropriate bond amount with the DEP. Any change will affect the charged rate as well. 

Jet may need to review the personal credit and current financial statements again at this annual point. Email and mail notices are sent out well in advance of this DEP annual review by Jet and a dedicated underwriter will be available to facilitate quick processing.

Please note that the security deposit or bond limit cannot be increased by the DEP in excess of the monthly average commission payment from the preceding 12 months.

Those making annual payments with Jet for the bond will follow the same annual reporting procedures and will need to make the annual payment before the bond term expires (or switch to monthly terms). This payment is done over the phone, online, or by check in the mail.

Cancelling the Bond

Concessionaires can request bond cancellation by emailing Jet at [email protected]. Jet can then file a cancellation notice to the Department of Environmental Protection. However, the bond will remain active for another 120 days before finally cancelling. This gives the concessionaire time to secure another bond or another form of deposit. This also gives the DEP the ability to capture any lingering costs should the concessionaire default.

Florida Park Concessionaire Bond Claims

The Florida Department of Environmental Protection can file a bond claim with Jet if they have deemed they have suffered financial loss due to the concessionaire not being compliant with the Concession Agreement which stems from Florida Statutes 258.007. 

It is in the best interest of the DEP to make a collection on any item directly with the concessionaire first. Most likely it is after a default that a bond claim will be made. Essentially, the concessionaire is getting booted out of the park and the DEP can only recoup ‘losses’ from the surety company.
Below are a couple of infractions that may result in a bond claim:

Jet will investigate any bond claim for its validity, however, in the face of a simple default, there is little we can do. Once the bond claim has been made the concessionaire (or former concessionaire) must still indemnify the surety company (Jet). Meaning the bond is a form of credit guaranteeing payment and the concessionaire must still pay back their creditor.

Florida State Park Concessionaire 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: