The City of Titusville may have required you to have a surety bond as part of a licensing requirement or to obtain a permit. Either way, Jet Insurance Company can provide this bond in minutes through our online application.
The surety bond is a financial guarantee the City mandates to protect itself from businesses or permit holders should the City or its populace be left with damages not rectified by the party at fault. A financial guarantee coming in the form of a surety bond commits Jet Insurance Company to pay out these damages and thus gives the City more assurance to grant permits and licenses to people who could not provide a financial guarantee on their own.
The City of Titusville may or may not always enforce this requirement for all permits or professions, but if you are here, then that means they are enforcing it for you. The Titusville Municipal Code does call out some permit bonds specifically including:
The cost of the bond is a small percentage of the bond limit, which is set by the City of Titusville at an amount deemed appropriate to cover potential damages.
Most bonds can be purchased immediately online and often at $100 annual or $10 monthly. For bonds with larger limits, the price may vary based on the personal credit of the applicant. Sometimes, an underwriter at Jet will need to review the proposed operation and financial statements.
Bond Limit | Monthly Cost | Annual Cost |
---|---|---|
$10,000 | $10* | $100 |
$25,000 | $13* | $125 |
*Please note that for certain permit bonds a monthly option will not be available.
Once the bond is purchased, the bond must be filed with the City of Titusville. In most cases, Jet will send you the sealed bond form requiring your signature to be filed with the City. Unless otherwise instructed the bond form can be submitted to the following address:
City of Titusville
PO Box 2806
Titusville, FL 32781
For monthly paying customers the bond stays active, so long as payments stay current. Annual bonds will need to be renewed before they expire. Jet will send a reminder well in advance of the bond’s expiration date. All we need is payment to renew the bond and following payment Jet will send a continuation certificate to the City of Titusville
To cancel your bond, email [email protected] and Jet will request cancellation from the City. In some scenarios, Jet cannot fully cancel the bond (and return premium) until the City releases Jet; the City of Titusville holds all the chips and has the power to keep Jet accountable as the surety carrier until their release.