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Indiana Department of Natural Resources

Forestry > Licensed Timber Buyers > Licensed Timber Buyer Application > Bond Requirements Bond Requirements

Timber Licensing Law
I.C. 25-36.5-1-3
Bond Requirements Based
On Annual Purchases

To assist you in determining the amount of bond coverage you will need for an Indiana Timber Buyer's License, we have computed and listed the bond requirement amounts based upon annual purchases.

These figures were computed for your convenience and were based upon Section 3(b) of the licensing law which states: "(b) Such bond shall be in the principal amount of $2,000 for an applicant who paid timber growers $5,000 or less for timber during the immediate preceding year, and an additional $100 for each additional $1,000 or fraction thereof paid to timber growers for timber purchased during the preceding year, but shall not be more than $20,000. In the case of an applicant not previously engaged in business as a timber buyer, the amount of such bond shall be based on the estimated dollar amount to be paid by such timber buyer to timber growers for timber purchased during the next succeeding year, as set forth in the application."

If you need assistance, please contact:
Duane McCoy, Timber Licensing Forester, (317) 232-4112

Read the chart below from left to right.

Annual Purchases Bond Required Annual Purchases Bond Required
$0-5,000 $2,000 $42,000 $5,700
$6,000 $2,100 $43,000 $5,800
$7,000 $2,200 $44,000 $5,900
$8,000 $2,300 $45,000 $6,000
$9,000 $2,400 $46,000 $6,100
$10,000 $2,500 $47,000 $6,200
$11,000 $2,600 $48,000 $6,300
$12,000 $2,700 $49,000 $6,400
$13,000 $2,800 $50,000 $6,500
$14,000 $2,900 $55,000 $7,000
$15,000 $3,000 $60,000 $7,500
$16,000 $3,100 $65,000 $8,000
$17,000 $3,200 $70,000 $8,500
$18,000 $3,300 $75,000 $9,000
$19,000 $3,400 $80,000 $9,500
$20,000 $3,500 $85,000 $10,000
$21,000 $3,600 $90,000 $10,500
$22,000 $3,700 $95,000 $11,000
$23,000 $3,800 $100,000 $11,500
$24,000 $3,900 $105,000 $12,000
$25,000 $4,000 $110,000 $12,500
$26,000 $4,100 $115,000 $13,000
$27,000 $4,200 $120,000 $13,500
$28,000 $4,300 $125,000 $14,000
$29,000 $4,400 $130,000 $14,500
$30,000 $4,500 $135,000 $15,000
$31,000 $4,600 $140,000 $15,500
$32,000 $4,700 $145,000 $16,000
$33,000 $4,800 $150,000 $16,500
$34,000 $4,900 $155,000 $17,000
$35,000 $5,000 $160,000 $17,500
$36,000 $5,100 $165,000 $18,000
$37,000 $5,200 $170,000 $18,500
$38,000 $5,300 $175,000 $19,000
$39,000 $5,400 $180,000 $19,500
$40,000 $5,500 $185,000 $20,000
$41,000 $5,600  -  -