What is a Citrus Dealer Surety Bond?
A Citrus Dealer Surety Bond regulates dealers of citrus products. This bond ensures that producers of citrus products receive proper accounting and payment for the products they provide. Citrus Dealer Bonds are a required the Florida Department of Agriculture and Consumer Services. These bonds are similar to the Agriculture Dealer Bonds also required by Florida.
Why do I need a Citrus Dealer Surety Bond?
Your company needs a Citrus Dealer Bond because it’s required by Florida to get a citrus fruit dealer license. These bonds protect your clients, usually growers, from financial harm caused by your company. Simply put, it offers a type of financial assurance that you will abide by the contracts you enter into with citrus producers.
What Citrus Dealer Bond amount do I need?
Your Citrus Dealer Bond amount is determined by the number of boxes of citrus you deal in a shipping season. This season ends on July 31st of each year and begins on June 1st or whenever you started dealing citrus. If this is your first bond, the bond amount you need will most likely be $1000. However, as the number boxes dealt increases, so does the amount of your surety bond. Please contact us if you need help in determining your bond amount and we’ll be happy to assist.
How much does a Citrus Dealer Surety Bond cost?
We can find your Citrus Dealer Surety Bond cost by reviewing a few items. The first factor is the bond amount needed. The second factor is your personal credit score. Finally, for larger bonds, the surety company may want to review your company’s financial statements. Your bond cost will take all of these factors into consideration. The better your credit score, the lower your bond cost. While the best way to find your cost is to apply online, the average cost is between 1-2% of the bond amount needed if your credit is good. However, you surety bond cost can increase if there are issues with your credit score.
How do I apply for a Citrus Dealer Surety Bond?
- Complete our online Citrus Dealer Surety Bond application, or
- Download and complete our printable Citrus Dealer Surety Bond application, and
- Receive your surety bond quote in minutes!