Commercial Fish Buyer License Bond - Lummi Indiana Business Council in Washington

Brief Summary

Buying fish or shellfish harvested under Lummi jurisdiction takes a Lummi buyers license, and the license is not issued until a $5,000 bond is posted with the Lummi Indian Business Council. A surety bond lets you meet that requirement without tying up $5,000 in cash for the season.

Lummi Code of Laws section 10.08.040 requires every fish buyer to post a $5,000 bond with the Lummi Indian Business Council before receiving a buyers license. The license is issued by the Lummi Natural Resources Department under section 10.08.010. A surety bond must name the LIBC as obligee and expire no later than 90 days after the license period, and the bond can be forfeited if the license is revoked for a violation.

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How to Apply for a Commercial Fish Buyer License Bond:

• Contact the Lummi Natural Resources Department for the buyers license application.
• Confirm the license period so the bond term can be set to match.
• Apply for a $5,000 surety bond naming the Lummi Indian Business Council as obligee.
• Make sure the bond expires no later than 90 days after the license period.
• Post the executed bond with the LIBC before the license is issued.
• File on reservation buyer's reports as the code requires.

Detailed Information About the Washington Commercial Fish Buyer License Bond:

The amount is a flat $5,000

Section 10.08.040 of the Lummi Nation's Title 10 Natural Resources Code states that all buyers shall post a bond with the LIBC in the amount of $5,000 before receiving their license. There are no volume tiers. A small seasonal buyer and a large processor post the same amount.

Who needs the license

Section 10.08.010 requires a buyers license from the Lummi Natural Resources Department to purchase fish or shellfish under Lummi jurisdiction. Section 10.08.020 makes it unlawful to purchase fish or shellfish for commercial purposes without one. Section 10.08.030 separately prohibits buying from unlicensed harvesters or from closed areas.

Four ways to post the bond

Section 10.02.010 defines a bond under Title 10 as any of the following: cash or money order paid to the LIBC, a surety bond naming the LIBC as obligee, an irrevocable standby letter of credit naming the LIBC as beneficiary, or a savings account assignment naming the LIBC as assignee. The surety option is the one most buyers use because it keeps working capital free during the season.

The detail buyers miss is the term. A surety bond must expire no later than 90 days after the license period. A continuous bond with no end date, or one running well past the season, does not match the code's definition.

What the bond secures

Under section 10.08.050, a violation of the code can lead to revocation of the buyers license and forfeiture of the bond. Buyers also file on reservation buyer's reports under section 10.08.080, and those reporting duties are part of the compliance the bond stands behind.

Premium

The surety sets the premium from the $5,000 bond amount and the buyer's credit and business history. Confirm the current bond form, license period and filing steps with the Lummi Natural Resources Department before the bond is issued.

Eligibility and Requirements for a Washington Commercial Fish Buyer License Bond:

• Bond amount of exactly $5,000.
• Lummi Indian Business Council named as obligee.
• Bond expiring no later than 90 days after the license period.
• Cash, standby letter of credit or savings assignment accepted in place of a surety bond.
• Bond subject to forfeiture if the license is revoked for a violation.

Washington Commercial Fish Buyer License Bond FAQs:

Official and Additional Resources for the Washington Commercial Fish Buyer License Bond: