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Florida — Yacht And Ship Salesperson Bond

Florida requires $10,000 security for the yacht-and-ship salesperson license or renewal. Match the individual salesperson and employing broker, not the broker's separate $25,000 requirement.

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Recorded state
Florida
Bond type
Boat / Vessel Dealer or Salesperson Bond
Category
Vehicles, titles & transportation

What this bond does

Section 326.004(9) applies the conditions in subsection (7) to the salesperson's security. Those conditions address compliance with written sale or exchange contracts and the Yacht and Ship Brokers' Act, in a Division-approved instrument delivered to the Division.

Who needs it
The individual seeking or renewing the salesperson license under a Florida employing broker. Confirm that the activity requires this license; a business name, brokerage's security or a boat owner's own sale does not by itself establish this individual obligation.
Who it protects
The statute places the security in favor of a person in a transaction who suffers the described loss. It also allows actions for the specified fraud, deceit, willful negligence or noncompliance. The Division receives the filing; do not mistake that delivery instruction for a statement that only the State benefits.

Your bond option

This is the option on record for this bond.

The bond amount describes the limit of the bond obligation, not the price. A listed amount does not establish what the requesting party requires. The premium is what you pay and must be confirmed for the actual option. An E&O limit, where listed, is separate errors and omissions insurance.

Keep salesperson security current through the license period

The current licensing instructions identify the individual application and employing-broker affiliation. Section 326.004 provides separate broker and salesperson sums. Changing status requires the current qualifications and approved licensing process; older instructions about two years alone should not be treated as a current entitlement to a broker license.

The statute requires security covering the license period and a new instrument or proper continuation at the beginning of each period. It states the surety's aggregate limit in any one year, not a single noncumulative limit for every year indefinitely. Match the full period and current Division-approved form in your application.

Recovery on the security triggers a new-filing requirement, and termination of surety can automatically suspend the license until replacement is filed. Follow the Division's current replacement instructions; an old license document does not establish continuing authority after security ends.

Purchase Now opens Propeller for this salesperson offering. Match the individual, employing-broker information, current approved condition and protected transaction participants, required sum and dates. File the security and complete licensing separately; use Call if the request instead names a broker or employing broker.

Sources

Have these ready

  1. Confirm the actual individual salesperson role and current license application or renewal.
  2. Have the employing broker's affiliation and business details ready.
  3. Match the $10,000 salesperson security requirement, not the broker's $25,000.
  4. Obtain the Division-approved instrument, full period and execution instructions.
  5. Complete current background, affiliation and filing requirements separately.

Questions about this bond

Does my employing broker's bond replace the salesperson security?

Do not assume so. Section 326.004 specifies $10,000 for the salesperson's license or renewal and a separate $25,000 broker requirement. Match the actual individual license and filing.

Who benefits from the security?

The statute expressly favors a person in a transaction with the described loss and provides the specified damage remedies. Delivery to the Division does not mean that only the filing authority is protected.

Can I keep operating after the surety terminates?

Section 326.004 provides automatic suspension upon termination until replacement is filed. Follow current Division instructions for continuing security and any replacement required after recovery.

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