Florida Public Sale of Thoroughbred Horses Bond

Florida Public Sale of Thoroughbred Horses Bond

Thoroughbred horse sellers need to submit a Public Sale of Thoroughbred Horses Bond with the Florida Department of Agriculture and Consumer Services. The bond protects the owners of thoroughbred horses from financial damages caused by a seller’s illegal actions.

APPLY FOR YOUR BOND

Buying your surety bond with Jet means one less hoop to jump through: we are a direct insurance company so you don’t need to deal with agents or middlemen that slow down the bonding process.

How Much Does a Public Sale of Thoroughbred Horses Bond Cost?

For a Class C $10,000 bond, you can buy your Thoroughbred Horse Seller Bond as low as $100 for one year with Jet. Quotes are based on credit, but quotes for Class A and Class B bonds will require financial statements as well. See the chart below for what Jet’s starting rates are for each class.

Bond LimitCost
$10,000$100
$50,000$500
$100,000$1,000
Florida Horse Seller Bond Rates

Thoroughbred sellers need to have a bond in an appropriate amount for their classification. The bond limit must be: 

The Thoroughbred Horses Seller Bond Process With Jet

Jet’s simple application for the Public Sale of Thoroughbred Horses Bond only takes minutes to complete. Since Class C Seller Bonds have a $10,000 limit, you’ll find your automatically-approved quote once your application is complete, ready for purchase.

Class A and Class B Thoroughbred Seller Bonds will need further review since the bond limits are higher and hold more risk. Your application will be submitted for approval by a Jet underwriter; additional paperwork like financial statements will be requested at this time. After the review is complete, an email with a quote offer will be sent, containing a link that you can click to purchase your bond.

After you have completed your purchase, Jet will get your Thoroughbred Seller Bond ready. The bond will be mailed to you with an attached Power of Attorney. When the bond is completed, it must be submitted to:

FDACS
Agricultural Dealer’s Licenses
Apalachee Parkway
Tallahassee, FL 32399-6500

The Thoroughbred Seller Bond must be active for the duration of the license for the Public Sale of Thoroughbred Horses. A separate license application is required for each sale, so a new bond would be filed with each license application.

If you need to cancel your surety bond, send Jet an email at [email protected]om. The Commissioner of Agriculture will need 30 days’ written notice to end the liability of the bond. 

How Does a Seller Avoid Sale of Thoroughbred Horses Bond Claims?

A thoroughbred seller needs to comply with Chapter 535 of the Florida Statutes and Chapter 5H-15 of the Florida Administrative Code for the public vendue of horses. The bond will provide coverage for a seller’s violations of these chapters which cause horse owners to lose money or other damages. One common violation is a seller engaging in deceptive practices, like the failure to disclose relevant medical conditions, surgeries, defects, or other alterations or conduct that have an effect on the horse’s performance. 

If a horse owner files a claim on the Thoroughbred Horse Seller Bond, Jet needs to be notified right away. Our team will review any available evidence to verify the validity of the claim—if you have any evidence for your defense, now would be the time to submit it. If the claim holds up and you are found in violation of the Statutes or Code (within the terms of the bond), Jet will provide compensation to the owner up to the limit of the bond that you hold. 

But, that doesn’t mean you handed off the reins to Jet and can walk away without paying. You are still liable for your actions and will need to pay Jet back in the amount of the claim. 

Florida Public Sale of Thoroughbred Horses 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: