What is a waste tire hauler bond?
The waste tire hauler industry is strictly regulated in many states to ensure waste tires’ transportation, storage, and disposal process is appropriately conducted and protects public health. Many states require waste tire haulers to post a surety bond to ensure compliance. The bond protects the state and the public financially if a waste tire hauler breaks the law or operates its business unethically.
The bond may go by other names in various states, such as:
- Scrap tire hauler bond
- Tire transporter bond
- Waste or scrap tire hauler bond
Get Your Waste Tire Hauler Bond:
- Specific states require waste tire haulers to be bonded as part of the licensing process.
- If you violate the statutes or regulations of the waste tire hauler industry, someone can file a claim against your bond.
- To obtain your bond, you will pay a small percentage (typically 1-10%) of the bond amount required, which ranges from $10,000 to $20,000 in many states.
Who needs a waste tire hauler bond?
Specific states require waste tire haulers to be bonded as part of the licensing process. Check with your state authority to determine your exact requirements (or call ZipBonds!). Different states define waste tire haulers differently and may only require bonds under certain circumstances.
If you plan to operate a waste tire hauler business in any of the following states, you may need a surety bond, depending on how many tires you move as waste.
- South Carolina
How do waste hauler bonds work?
Like other license and permit bonds, waste hauler bonds are three-party agreements between an obligee, a principal, and a surety. The obligee is the state agency that requires you to get the bond as part of your licensing process. The waste tire hauler is the principal that must purchase the bond and follow its terms.
The surety company will issue your bond and back it financially in case of claims. Just keep in mind that if a valid claim is filed against your bond, you will ultimately be held fully responsible for covering all costs involved in settling that claim.
If you violate the statutes or regulations of your industry, someone can file a claim against your bond. Avoid claims by carefully following all state laws governing your business.
How much does a waste tire hauler bond cost?
To obtain your bond, you will pay a small percentage (typically 1-10%) of the bond amount required, which ranges from $10,000 to $20,000 in many states. The better your credit score is, the lower your premium rate will generally be. These bonds are easy to obtain and can be issued quickly after application for as little as $100.
Can I get this type of surety bond with bad credit?
If you have a low credit score, you may still be able to get bonded at an affordable rate. Expect to pay a higher percentage of the bond requirement.
How to Get a Waste Tire Hauler Bond in Your State
ZipBonds offers the fastest and most secure option for getting the surety bonds you need. Our all-digital platform is intuitive and straightforward. Apply today online or call us at (888) 435-4191 to speak with an agent directly.
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.