If you are engaged as a ship broker in the State of Florida, the Florida Department of Business and Professional Regulations requires that you execute a Florida Ship Broker or Salesperson Bond in the amount of $25,000 to ensure compliance with Chapter 326 of the Florida Statutes.
A surety bond protects the party requesting the bond, the Obligee, against any financial losses as a result of poor financial decisions, damages, unethical decisions, or a failure to follow state and local laws on the part of you, the Principal. The Florida Ship Broker or Salesperson Bond holds you accountable for your business decisions.
By possessing a Florida Ship Broker or Salesperson Bond, you are telling your Obligee that you can be trusted as a Principal and that you stand behind your business decisions.