The District of Columbia requires automobile dealers to post a $25,000 surety bond as part of DC DMV Registered Dealer licensing process. An auto dealer bond holds dealers and dealerships accountable to the law and industry regulations. If a dealer causes a customer financial harm by breaking the law, the customer can file a claim […]
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Apr
Bidding on projects in the public sector can be a lucrative opportunity for contractors, but it also comes with its own set of challenges and requirements. If you’re new to bidding public work, you may be surprised at some things you face that differ from the private sector. How is bidding public work different from […]
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The state of Hawaii requires the following motor vehicle dealers to post an auto dealer bond when a line of credit can’t be reasonably obtained. New vehicle dealers Used vehicle dealers Motorcycle dealers Scooter dealers
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The Delaware Division of Motor Vehicles (DMV) requires auto dealers to post a $25,000 motor vehicle dealer bond to become licensed to work legally. An auto dealer bond holds dealers and dealerships accountable to the law and industry regulations. If a dealer causes a customer financial harm by breaking the law, the customer can file […]
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The Kansas Department of Revenue requires vehicle dealers in the state to post a $50,000 surety bond. An auto dealer bond holds dealers and dealerships accountable to the law and industry regulations. If a dealer causes a customer financial harm by breaking the law, the customer can file a claim against the bond for compensation.
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The Virginia Motor Vehicle Board requires anyone applying for a motor vehicle dealer license in the state to post a $50,000 Motor Vehicle Dealer Bond. This includes dealers wishing to sell cars, trucks, motorcycles, RVs, and trailers.
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The Maryland Department of Transportation requires motor vehicle dealers in the state to post surety bonds. Requirements could range anywhere from $5,000 to $300,000 and apply to the following types of dealers:
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Contractor bonds are essential tools that help ensure smooth operations and the fulfillment of contracts before, during, and after construction projects. In this article, we explore these bonds in depth. Whether you’re a seasoned pro or just starting out, this guide will equip you to navigate surety with confidence. We cover why these bonds are […]