What is a North Dakota manufactured home installer bond?
A North Dakota manufactured home installer surety bond is a license and permit bond that manufacturers, dealers, installers, and retailers of manufactured and mobile homes must obtain as part of the state licensing process. This bond may go by other names, such as recreational dealer bond, manufactured housing bond, or mobile home dealer bond.
The bond ensures that businesses comply with state laws and regulations regarding the manufactured home industry. If a company engages in fraudulent business practices that harm consumers or the state, it could face costly bond claims.
Get Your North Dakota Manufactured Home Installer Bond:
How does a North Dakota manufactured home installer bond work?
If you’re applying for a manufactured home installer’s license in North Dakota, you will need this surety bond for $10,000. The North Dakota Department of Commerce, Division of Community Services requires this bond. After you’re licensed to work in the state, the surety bond will hold your business accountable to ethical and legal practices. You must renew your bond annually – by June 30 – to maintain your business license.
The bond states that your business must comply with all statutes and regulations set by the state of North Dakota or the United States government – as they relate to installing manufactured homes for consumers. If you break the surety bond contract, any party that experiences losses can file a claim against your bond for up to $10,000 to recoup their losses.
How much does a North Dakota mobile home dealer bond cost?
You will pay a small percentage of the penal sum ($10,000). Your premium rate will depend on various factors, including your credit score and financial history. If you have excellent credit, you could pay as little as 1%, or $100, annually.
Get a North Dakota Manufactured Home Installer Bond
ZipBonds offers the fastest and most secure option for getting bonded. Our all-digital platform is intuitive and straightforward. Apply online, email email@example.com or call 888.435.4191 to speak with an agent directly. Many of our bonds can be processed and issued immediately online.
Founders Ryan Swalve and Zach Mefferd formed the vision for ZipBonds.com when they realized how overly complicated it was to help clients place surety. The frustration of being unable to incorporate the technology they’d used in other insurance-focused projects left them thinking “there has to be a better way.”
Fast forward a couple of years, and that better way is the impetus of everything we do at ZipBonds. We constantly look for innovative ways to improve the bonding process for our clients and agents. Our team comprises individuals who understand all angles of surety – for companies, agencies, and individuals. Incorporating everyone’s point of view to improve the process while simultaneously integrating cutting-edge technology is what sets our business apart.