Motor Vehicle Dealer Bond
A motor vehicle dealer bond, sometimes known as DMV bond, used car dealer bond, or auto dealer bond, guarantees that the motor car banker complies with all federal laws, state laws and tax and decision guidelines that relate to motor vehicles
Most of the time, a surety bond's (motor vehicle dealer bond) purpose is to assure a customer against fraud, behind on a contract, or behaviors against law and blameworthy behaviors on the allotment of a business provided that a service or product. In some cases, a business opts to get a surety band to prove that they are committed to ethical behavior; however, a lot of the time a band is appropriate by a government bureau in adjustment for a business to get authorization to offer those services or products.
One example of an industry that is essential by law to include surety bonds in place in turn for a business to obtain a license is the motor vehicle dealership industry.
For more information on all of our surety programs click here