The Oregon Department of Fish and Wildlife requires wholesale fish dealers and canners to have a surety bond to protect the department from non-payment of fees.
With Jet, purchasing a bond has never been easier and takes just minutes online.
The lowest rate for a Wholesale Fish Dealer and Canner Bond is $10 for bonding amounts up to $10,000 bond limit. The bonding coverage determined by the Department of Fish and Wildlife is variable based on the volume of business done by the dealer with the minimum bonding amount at $1,000. The bond price at Jet must factor in the bonding amount and personal credit of the principal owner of the wholesale operation. Rates below are an example of preferred pricing for applicants with good credit for a couple of bonding amounts.
When bond limits increase from regulatory agencies, Jet’s monthly payment option becomes a great option for wholesalers to avoid steep upfront premiums. For example, instead of paying a $750 premium, you can get the bond for $75 with now down payment and no fees with Jet.
Yes! Jet will file the bond electronically to the Oregon Department of Fish and Wildlife in cases where you need the bond sent over immediately to verify coverage. The department still requires the original bond form to be filed with your renewal or initial licensing packet.
Below is the address where your bond needs to be filed:
Oregon Department of Fish and Wildlife
3406 Cherry Ave. NE
Salem, Oregon 97303
The Oregon Department of Fish and Wildlife is responsible for the protection of Oregon’s fish populations and regulation of wholesale fish and shellfish dealers falls under their jurisdiction. The bond is required by the Department for wholesale fish and shellfish dealers to be licensed and the bond guarantees that fees are paid to the department per Oregon Statutes ORS 508.415. Should fees not be paid by the dealer, the Surety who provided the bond will make payment of these fees. The Department of Fish and Wildlife relies on these fees to execute their mandate.
The wholesale fish and shellfish dealer can avoid a bond claim by keeping current with the payment of their fees to the Department. The dealer must pay a $500 annual licensing fee and must pay fees that are a percentage of the value of the fish dealt. As a dealer you must keep accurate records and make all payment in full to the Department of Fish and Wildlife. Should there be an audit by the Department and a discrepancy discovered, the dealer must make payments to adjust for any fee shortcomings.
Immediately contact us if you receive notice of a claim. Jet works diligently to weed out frivolous accusations, but in the cases of a claim coming directly from a government agency there is little we can do. Jet will review the notice to make a bond claim payment and if valid with make payment to the Department of Fish and Wildlife.
Like in all surety agreements a bond claim payout does not leave the principal (wholesale dealer) of the hook. The dealer is still responsible for their taxes and is still required to make payment back to the Surety (Jet) for the amount paid on their behalf. Failure to do so will leave the license in Jeopardy.
With Jet it takes literally minutes to complete the application online. Some bond limits allow us to price the bond automatically for purchase. Larger bond limits will need to be submitted to our underwriting team for review prior to approval.
The dealer will need to submit the bonding amount to us during the online application. This bond amount is provided from the Department of Fish and Wildlife based on monthly reports submitted to the department.
The Wholesale Fish Canners bond needs to be renewed each year. The Department will send a letter to the dealer with a bonding amount for the next year based on monthly income reports that are produced by the dealer. Jet’s renewal process takes into account the variable bond amount and you will be able to easily report the new amount and pay for it all online in minutes.
Jet can quickly file a cancellation notice to the Oregon Department of Fish and Wildlife and return any unearned premium due to the dealer. For monthly payments we will promptly stop the payment process. The bond has a 30-day cancellation provision cancellation provision, meaning it will not cancel until 30 days after Jet provides a written notice to the Department. Any returned premium will have to take into account that 30 day period while the bond is still active.