In the State of Arizona, anyone engaged in the business of buying, selling, exchanging or brokering of an aircraft for compensations must be licensed with the Aircraft Registration Unit of the Arizona Department of Transportation. The license application can be found on the Arizona Department of Transportation website. As part of the licensing process, aircraft dealers are required to submit a $10,000 surety bond. Per Title 28 Chapter 25 of the Arizona Revised Statutes, this surety bond guarantees that the principal (aircraft dealer) files all tax records, interest payments, penalties and other related fees in a timely fashion. It also guarantees that anyone doing business with the principal will not suffer losses due to the failure of the principal to conduct business in a lawful manner. A claim may be filed if a loss occurs, and the surety will pay out up to the full penal sum of the bond if the claim is found to be valid. Any monies paid out by the surety must be reimbursed by the principal. The term for Arizona Aircraft Dealer Surety Bonds is continuous, and the surety can terminate the bond by submitting 60 days written notice to the Department of Transportation.
Pacific Surety offers industry low rates and can obtain approvals for almost all credit situations. Once our simple application has been completed, we can have pricing to you within hours. If you have any specific questions, please contact our knowledgeable underwriting staff.
Surety Bond Name
Aircraft Dealer Surety Bonds – Arizona
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