The Virginia Watercraft Dealer Bond is required by the Commonwealth of Virginia to be in the amount of $5,000 for the year.
Who is required to carry this surety bond?
All watercraft dealers must submit this surety bond. A watercraft dealer is any person or business that:
- For commission, money or other thing of value, buys, sells, exchanges, or arranges or offers or attempts to solicit or negotiate on behalf of others a sale, purchase or exchange of an interest in, new watercraft or new and used watercraft or used watercraft alone whether or not such watercraft are owned by such person: or
- Is engaged, wholly or in part, in the business of selling new watercraft or new and used watercraft, or used watercraft only, whether or not such watercraft are owned by such person; or
- Sells, offers to sell, displays or permits the display for sale, of two or more watercraft, within any twelve consecutive months.
The bond states that the bondholder will follow the provisions of Chapter 8, Title 29.1 of the Code of Virginia and keep harmless any person from any fraud practiced on him or fraudulent representation.
- Payment of $75 for the license
- Virginia Watercraft Sales Tax Certificate
- Dealer Agreements with watercraft manufacturers or distributors to sell new watercraft. Used watercraft sales do not need a dealer agreement
- Local business license if required by the localities where they play to put up the business
- The place of business must undergo an inspection by a VDGIP Conservation Enforcement Officer
- Salesperson license for each salesperson that wells watercraft
- Demonstrator license, if applicable
- Permanent supplemental license, if applicable
- A temporary license, if applicable
How do I obtain a Virginia Watercraft Dealer 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.