Connecticut Marine Dealers who issue registrations are required under the General Statutes of Connecticut Section 15-144-1 to file a Connecticut Marine Dealer Registration Issuance 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 Connecticut Marine Dealer Registration Issuance Bond holds you accountable for your business decisions.
By possessing a Connecticut Marine Dealer Registration Issuance Bond, you are telling your Obligee that you can be trusted as a Principal and that you stand behind your business decisions.