If you are engaged in the operation of a shellfish buying station in Maine, you are required under the Department of Marine Resources Chapter 15 General Shellfish Sanitation Requirements Section 15.11to file a Maine Buying Station Bond as a condition of licensure.
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 Maine Buying Station Bond holds you accountable for your business decisions.
By possessing a Maine Buying Station Bond, you are telling your Obligee that you can be trusted as a Principal and that you stand behind your business decisions.