Florida Citrus Fruit Dealer License and Bond Renewal Deadline Coming Up!
The Florida citrus fruit dealer license and bond renewal deadline is just around the corner! Both the dealer license and the Florida citrus fruit dealer bond expire on July 31 and must be renewed before the date in order to remain valid.
Read more about the renewal and the bond cost below!
Florida Citrus Fruit Dealer License and Bond Renewal
According to the Florida Citrus Code citrus fruit dealer licenses and bonds are issued for one year at a time, and must be renewed yearly before July 31 when they expire.
The fruit dealer license must be renewed through the Florida Department of Citrus by submitting a renewal application, as well as by paying the relevant renewal fees. Yearly licensing fees are $25 per license and $10 for every agent of a licensed citrus fruit dealer.
If a dealer fails to renew their license on time, it will get revoked and they will need to reapply for their license, and possibly pay a penalty for having failed to renew it on time. If a dealer fails to renew their bond, they cannot renew their license. This is how surety bonds work.
Since processing of applications usually takes a week or two, it is urgent that dealers who are late with their renewal start early in order to make the deadline!
Florida Citrus Fruit Dealer Bond Cost
The cost of your bond depends on the amount of the bond you need to obtain.
According to the Florida Citrus Code, citrus fruit dealers in the state must obtain surety bonds whose amounts are determined by the Department of Citrus and which depend on factors such as the number of packed boxes of fruit, as well as a number of other factors.
Accordingly, the bond which a dealer will be required to obtain will be based on the following schedule:
- A $1,000 bond for up to 2,000 boxes
- A $2,000 bond for up to 5,000 boxes
- A $3,750 bond for up to 7,500 boxes
- A $5,000 bond for up to 10,000 boxes
- A $10,000 bond for up to 20,000 boxes
Beyond those, another $1,000 is added to the bond for every additional 20,000 boxes or anything above 20,000 boxes. The maximum possible bond amount for the citrus fruit dealer bond is $100,000.
The cost of obtaining any of these bonds is a fraction of the total bond amount – a small percentage thereof. Applicants are offered different rates on their bonds by sureties, depending on their personal credit score. Applicants with very high credit scores can get a quote on their bond which is as little as 0.75% of the total amount.
Get Your Citrus Fruit Dealer Bond!
Want to know how much your bond will cost? Get a free quote on your citrus fruit dealer bond by filling out our application form! And if you want to know more about the bond requirements or how surety bonds work – call us at 877.514.5146 anytime!