The Indiana Timber Buyer Bond is required by the State of Indiana, Department of Natural Resources, Division of Forestry. The bond was created to reduce the amount of timber theft occurring in the state. This bond used to pay timber growers for timber ordered, but not purchased, and for timber wrongfully cut and not paid for. The amount of the bond depends on the amount of timber the buyer expects to purchase for the year. Bond amounts range from $5,000 to $50,000.
Applicants for a Timber Buyer License must complete the application form given by the department. In addition to the application, they must attach payment for the license fee. Another important requirement is the surety bond, issued by a surety company licensed to operate in Indiana (us!). As for the amount of the surety bond, it will depend on the annual purchases. To help determine the amount of bond coverage you will need, the state has created the easy-to-read chart HERE.
Why should I choose Surety1 for my Indiana Timber Buyer Bond?
We have been writing Timber Buyer Bonds since 2003. Here at Surety1, you can be assured that we will offer both fast and friendly service. We also have access to the lowest rates on the market. Our licensed agents work hard to give you those low rates by partnering with over a dozen A-rated surety markets.
To begin the process, just complete this online application form and wait to hear from one of our agents! We will get back to you within one business day. You will be given a free quote for the bond premium. Once you pay and sign the paperwork, you have the option of receiving the bond through USPS Priority Mail or overnight delivery.
Surety1 has been issuing surety bonds for all 50 states since 2003, we also maintain an A+ rating from the Better Business Bureau.