Delaware Special Fuel Bond (Distillate/LP Gas Bond)
AmeriPro Surety Bonds | 844-589-9732
Surety Bond Amount and Purpose
In Delaware, distillate/LP gas businesses are required to furnish the Motor Fuel Tax Administration with evidence of financial responsibility. Such evidence takes place in the form of a surety bond. This requirement is in accordance with Title 30, Chapter 51 §5134 (d).
According to the statute, the amount of surety bond required of you will be between $5,000 and $200,000. The amount of surety you, particularly, are required to file will be made known to you by the Department.
The purpose of this surety bond is to ensure the following:
- That your business will promptly pay all taxes, fees, and interest penalties as they become due;
- And that the reports that you file will be both true and accurate.
Qualifying and the Premium
Qualifying and being approved for the Delaware special fuel bond requires the following:
- A completed application. The application is relatively short, and our agency can complete much of the application with you over the phone. However, the application will require your signature and that of a “witness” (it does not need to be notarized), before it’s submitted for review;
- Review by an underwriter. The review process by the underwriter is for any amount required. Included in this review is a standard credit check inquiry.
To be approved for this bond, our agency requires good credit; we will not be able to get you approved otherwise.
The premium rate is 1% of the surety bond amount required (a minimum of $100).
Upon approval of your surety bond and payment of the premium, our agency issues your bond to you immediately.
Included with your surety bond will be a Power of Attorney form. Our agency will sign your bond as Surety; you will sign your bond as Principal.
All completed documents will be filed by you to:
State of Delaware
Motor Fuel Tax Administration
P.O. Box Drawer E
Dover, DE 19903
Surety Bond Term
Your surety bond is issued for a term of one year, renewing on the anniversary of its issuance.
If you anticipate the renewal bond amount to be the same as the current amount required, we can offer you the option to prepay your premium for 2 or 3 years which will save you money as compared to renewing annually.
AmeriPro Surety Bonds is a surety bonds-only agency. We provide license and permit, court, probate, and other surety bonds in all 50 states, and the Washington D.C.
Please call our agency today at:
Or, you may fill out the form below and a Surety Agent will contact you…