Georgia Agricultural Products Dealer Bond |
AmeriPro Surety Bonds | 844-589-9732
Georgia Agriculture Dealers
Besides being licensed with the Georgia Department of Agriculture, dealers who sell or transact in any manner in agricultural products must furnish the Department with evidence of filing a surety bond.
The surety bond requirement is regardless of whether or not the dealer has a physical location within Georgia.
Our surety bond agency provides this surety bond for you in the amount that you are required to purchase.
Georgia Agricultural Products Dealer Bond: Determining the Amount of Surety Bond Required
The amount of surety bond that you will be required to purchase to purchase will be determined by one of two criteria. These will be according to your own calculations:
- If you have never done business as an agricultural dealer in Georgia, the bond should be equal to the amount in the month which you estimate will have the maximum amount or volume of agricultural products to be handled by you;
- If you have done business in Georgia, the bond should be equal to the amount in the month from the previous year in which you had the maximum amount or volume handled by you as a dealer.
Georgia Agricultural Products Dealer Bond: The Cost and Duration
The pricing for this surety bond will of course be a reflection of the amount required.
As a very broad general rule, the bond may cost an applicant with good credit as little as 2% of the bond’s face amount; however, the price you may be required to pay will be determined by information provided in your surety bond application, and a standard credit check.
AmeriPro Surety Bonds will work to find you the best surety bond pricing.
Applicants who have a surety bond required that is particularly large, over $50,000, may be asked for additional information as part of the surety underwriting process.
Once purchased, the bond is active for one year from the date of purchase and must be renewed annually. Presumably, the amount of surety bond will likely vary from one year to the next.
Georgia Agricultural Products Dealer Bond: Its Purpose
The purpose of this surety bond is a financial guarantee which ensures your compliance with all statutes which govern agricultural products dealing, especially the Georgia Laws, 1956, page 617.
The surety bond protects against any violations of the law and is for the benefit of the Department, not your own as the purchaser.
Unlike an insurance policy, if there were a surety claim paid against your bond, you would be required to reimburse the surety in for all costs and fees involved in the settlement of any claim against you.
AmeriPro Surety Bonds is a surety bonds-only agency which provides license and permit, contractor, court, and fiduciary bonds throughout Georgia.
Our agency also provides surety bonding services nationwide.
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