California Yacht and Ship Broker Bond
Bond Requirements & Set Rates
| Bond Amount Required | Annual Premium |
| $15,000 | $150 |
Professionals who broker the sale or purchase of yachts and ships in California must secure a surety bond before conducting business. Required by the California Division of Boating and Waterways (DBW), this bond protects consumers by ensuring brokers properly handle funds and comply with state regulations governing vessel transactions.
Cost of the California Yacht and Ship Broker Bond
The cost of the $15,000 California yacht and ship broker bond is $150. Buy now to meet bonding requirements with ease.
Why You Need a Yacht and Ship Broker Bond
A California yacht and ship broker bond provides financial protection for buyers and sellers by ensuring brokers manage deposit funds responsibly and follow applicable laws. It reinforces trust in marine transactions and helps prevent financial misconduct.
This surety bond involves three parties:
- Principal: Yacht and ship broker
- Obligee: California Division of Boating and Waterways
- Surety: Bonding company
If a broker mishandles funds or violates regulations, a claim may be filed against the bond. The surety may compensate the harmed party up to $15,000, and the broker is responsible for reimbursing the surety for any claims paid.
How to Get a California Yacht and Ship Broker Bond
Follow these steps to get the yacht and ship broker bond:
- Complete this online application with your business information.
- Pay the $150 premium to activate your bond.
- Receive your bond instantly—often with no credit check.
- Download your bond and submit it to the California Division of Boating and Waterways.
Get Your California Yacht and Ship Broker Bond
NNA Surety makes it quick and easy to get bonded with a streamlined application, fast processing, and reliable support. Get your California yacht and ship broker bond and start operating with confidence. Apply now or contact our team for more information.