Florida Agricultural Products Dealer Surety Bond

• State of Florida Agricultural Products Dealer Bonds are individually underwritten so the cost can vary and is heavily dependent on the personal credit report of the applicant as well as experience and other financial considerations. Applicants with good credit scores (generally 680 or higher) who have been in business for at least 2 years pay as low as 1% of the total bond amount. Of course, we will always provide you with the lowest rates available on the market. And can typically handle all credit types — from excellent to poor — as such those terms vary.
• The surety bond amount is calculated as equal to twice the dollar amount of agricultural products handled in Florida during the month of maximum transaction in such products during the preceding 12-month period. A Principal (Agricultural Products Dealer) applicant who has not handled agricultural products in Florida during the preceding 12-month period will furnish a surety bond in an amount equal to twice the estimated dollar amount of agricultural products to be handled in Florida during the month of maximum transaction during the next immediate 12 months. No surety bond may be in an amount less than $5,000 and may not exceed an amount of $100,000.

The Florida Ag Products Dealer Bond is in place to protect producers against buyers who fail to pay and helps ensure producers receive proper payment for their products. It helps provide for a marketplace relatively free of defaults and unfair trading practices. The State of Florida has determined that you must be bonded if you purchase agricultural products in Florida for resale and pay for such purchases with other than U.S. cash currency or a cash equivalent (money order, cashier’s check, wire transfer, electronic funds transfer, or debit card).

The Florida Agricultural Products Dealer license is granted by The Florida Department of Agriculture and Consumer Services (FDACS), under Florida Statutes, Section 604.17. As required by Florida Statutes, Section 604.20, a surety bond must be submitted before any license is issued. The Obligee on the bond reads as the Commissioner of Agriculture of the State of Florida.

Agricultural Products Dealer Bonds Florida run concurrently with your license, which renews annually on its anniversary date. It is likely that variations on business volume each year will require a different bond amount than the prior year. The surety bond may be canceled with 30 days written notice from the Surety to the Commissioner of Agriculture of the State of Florida and the Principal (Agricultural Products Dealer).

Contact The ProSure Group. As surety bond experts in business over 23 years in Florida, The ProSure Group has handled hundreds of agricultural dealer bonds and has partnerships with more than 30 different surety companies. This ensures that we get you the best, most competitive pricing and terms available in the marketplace. You just need to complete our simple application and one of our specialists will quickly contact you.

What you will need to submit to obtain your license:

• Completed application on the required state form (FDACS-06302)
• Properly executed surety bond with the application
• All additional documentation requested on the application
• Application fee of $170, $230, or $300 depending on the bond amount
• And more.