What Is a Hunting/Fishing License Bond?
If you’d like to sell hunting and fishing licenses, or guide people on hunting and fishing trips, you may be required to obtain a hunting/fishing license bond. This license bond is a prerequisite set in some states.
The goal of your hunting/fishing license bond is to guarantee that you will sell licenses in full legal compliance. In case you fail to do so, the state you operate in or harmed parties can seek a compensation by making a claim against your bond. The maximum reimbursement is the penal sum of your bond.
Similarly to other surety bonds, the hunting/fishing license bond is a contract between three entities. You are the principal that has to obtain the bond. The state bodies that impose the requirement are the obligee. The third party is the surety that provides the bonding.
Questions about Hunting Fishing License Bond
In which states do I need a hunting/fishing license bond?
In Florida, hunting and fishing permit distributors are required to obtain a $1,000 surety bond. It should be presented to the Florida Wildlife Commission.
You need to obtain a $10,000 surety bond if you want to obtain a fishing and hunting seller license. The licensing authority is the New Hampshire Fishing and Game Department.
What is the surety bond cost that I have to pay?
Getting bonded does not entail covering the whole bond amount that is required of you. You only need to pay a fraction of it, which is called the bond premium. It is set on the basis of your personal and business financials. If they are in good shape, you can expect a bond rate in the range of 1% to 5%.
Your surety bond cost is formulated by considering your personal credit score and business financials. The surety you apply with may also look at and any assets and liquidity that you can showcase, as well as your business knowhow. That’s how it can assess the level of the bonding risk. You are likely to pay less for your bond if your overall profile is stable.
|Surety bond name||Surety bond amount||Above 700||Between 650-699||Between 600-649||Below 599|
Can I get a bond with bad credit?
With Lance Surety Bonds getting bonded with problematic finances is possible. We operate our Bad Credit Surety Bonds program, so that you can obtain the bond you need even if you have a low credit score, tax liens, bankruptcies, or civil judgements.
Since the bonding risk is higher, the premiums are slightly higher as well - between 5% and 10%. We are able to offer you a top bonding option due to our excellent relations with numerous A-rated, T-listed surety companies.
How can I apply for my hunting/fishing license bond?
Would you like to learn more about the surety bond process? You can consult our detailed How to Get Bonded page.
Have more questions? Just contact us at (877) 514-5146. Lance Surety Bonds’ specialists will help you out.