What is a Florida Citrus Dealer Bond?
A Florida Citrus Dealer Surety Bond is one way the State of Florida regulates dealers of citrus products. The Florida Citrus Dealer Bond ensures that producers of citrus products receive proper accounting and payment for the products they provide. Unless an exemption exists (please refer to the Florida Department of Agriculture and Consumer Services), all entities who buy, sell, receive, solicit, handle, or negotiate citrus products within the State of Florida from or for Florida producers, must provide a bond and be appropriately licensed by the State of Florida.
What Florida Citrus Dealer Surety Bond amount do I need?
Florida Citrus Dealer Bonds are widely written by multiple surety bond companies. The respective minimum and maximum bond amounts for the Florida Citrus Dealer Surety Bond are $1,000 and $100,000. The actual amount of bond needed varies and is dependent on the boxes sold. For example: A citrus dealer who sells 2,000 boxes of citrus would need a $1,000 citrus dealer bond while and citrus dealer who sells 320,000 of citrus would need a $25,000 citrus dealer surety bond. You can view the bond form and required bond amount needed based on the boxes of citrus sold by visiting the Florida Department of Agriculture and Consumer Service’s website.
How much is a Florida Citrus Dealer Bond?
The premium for a Florida Citrus Dealer Surety Bond can vary based on the amount of the bond needed and the personal credit and/or business financials of the entity applying for the bond. Typically, applicants with good credit can expect to pay 1-3% of the bond amount needed. Applicants seeking a bad credit surety bond should expect to pay in between 4-15% of the bond amount needed. The premium for this bond is due annually upon renewal and can be adjusted to reflect a larger or smaller Florida Citrus Dealer Bond amount.
How do I apply for a Florida Citrus Dealer Bond?
- Complete our online Florida Citrus Dealer Bond application, or
- Download and complete our printable Florida Citrus Dealer Bond application, and
- Receive your surety bond quote in minutes!