The Michigan Fuel Dealer, User or Seller Bond is required by the State of Maryland. In addition to the application form that must be completed and approved, a surety bond may also be required as part of the conditions.
What is the purpose of a Michigan Fuel Dealer, User or Seller Bond?
If an applicant for a wholesale gasoline distributor license, a diesel dealer license, or a liquefied petroleum gas dealer license cannot satisfy the department as to the applicant’s financial responsibility, the applicant shall file with the department a cash or surety bond payable to the state, upon which the applicant is the obligor. The bond confirms that the bondholder will remit payment of tax for their gasoline, aviation fuel and/or diesel fuel purchase, including amounts elected to be paid via electronic funds transfer as provided at Section 8a, P.A. 150 of 1927, in a timely manner.
What is the amount of the bond?
The bond of a wholesale gasoline distributor shall not be less than $1,000.00 nor more than $25,000.00. The bond of a diesel dealer or a liquefied petroleum gas dealer shall not be less than $500.00 nor more than $5,000.00.
How do I obtain a Michigan Fuel Dealer, User or Seller Bond?
Complete our easy to navigate online application. Within one business day, one of our licensed agents will contact you with a no-obligation quote for your bond (the “premium”). Once any necessary paperwork is signed and the premium payment is processed, your surety bond will be shipped to you via USPS Priority Mail (overnight shipping options also available).
The surety bond experts at Surety1 are here to help you get bonded quickly and reliably. We work with over a dozen “A” rated surety markets to ensure we find you the lowest rate for your bond. We are also licensed in all 50 states and maintain an A+ rating by the Better Business Bureau.