Motor Vehicle Dealer Bonds Cost & Info.
Posted: October 8, 2022
Auto Dealer Surety Bonds are required by the State Motor Vehicle Department in order to obtain a motor vehicle dealer license, Dealer surety bond does not protect the car dealer from lawsuits, but it protects the consumer from fraud or misrepresentation by the auto dealer. Auto Dealer Bond guarantee compliance with state laws and every state sets its own bond amount, period and expiration date. Auto...
BMC-84, $75,000 Freight Broker Bond Info.
Posted: March 24, 2022
Our economy heavily relies on truckers to transport vital necessities such as food and clothing. Freight brokers are required to maintain a $75,000 surety bond with the FMCSA (Federal Motor Carrier Safety Administration) under Title 49, U.S.C. 13904. As of October 1, 2013, the freight broker bonds amount increased from $10,000 to $75,000 to comply with the MAP-21 bill. Also referred to as a BMC-84...
What is an Auto Dealer Surety Bond and Dealer Bond Cost?
Posted: January 30, 2022
What Is An Auto Dealer Surety Bond? Auto Dealer bond does not protect the car dealer from lawsuits, but it protects the consumer from fraud or misrepresentation by the auto dealer. Auto Dealer Bonds guarantee compliance with state laws and every state sets its own bond amount, period and expiration date. Auto Dealers are required to obtain a motor vehicle surety bond which is also known as DMV...
Auto Dealer Bond
Posted: January 16, 2022
Auto dealer bonds, sometimes called motor vehicle dealer bonds or car dealer bonds, are government required surety bonds that auto dealers must purchase to obtain a dealer license. Auto dealer bonds protect the public from financial harm resulting from violations of licensing law committed by the auto dealer. Texas auto dealer surety bonds rates start from $329/ 2 years based on good credit history. Texas Motor...
How Much Does an Auto Dealer Bond Cost?
Posted: November 26, 2021
Auto dealer bond is like any other surety bond is required by the state entity so a dealer to get his dealer's license. Rates vary among 3 factors so the dealer can get the best rate possible. Factor #1 is the Bond amount needed or required by the State Entity Factor # 2 is the applicant credit history Factor #3 is the applicant previous claims...