Slot machine licensee bond cost
Slot machine operators in Florida must post surety bonds in varying amounts prior to conducting business. Applicants should verify their required bond amount with the state prior to bonding.
Because the required amount and price of these bonds can vary so much, our experts recommend contacting us so that we can walk you through our fast and easy bonding process. Request your free bond quote now!
Why this bond
Florida slot machine licensee surety bonds are put in place to ensure that principals (slot machine operators) adhere to the provisions of Chapter 551 of the Florida Statures and Chapter 61D-14, of the Florida Administrative Code. Some of these provisions include remitting payment of all license fees and taxes required by law and performing all requirements imposed by law or regulation or the conditions or the license.
If the principal fails to comply with these terms, the bond covers financial losses suffered by harmed parties up to the full penal sum. The principal must reimburse the surety for any damages paid out.
Slot machine licensee bond details
Slot machine licensee bonds in Florida may not be released except to the Florida DBPR on written demand of the Director of the Division of Pari-Mutuel Wagering of the DBPR or by the principal with the written instructions form the director.
The surety can cancel the bond by giving written notice of withdrawal to the director at least 60 days prior to the effective withdrawal date. These bonds can be continued with a continuation certificate signed by both the principal and the surety.
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