Archive for November, 2013
give us a call before making plans and talk to our knowledgeable staff about surety bond requirements any time you are considering expanding your business base. Meanwhile, here are the auto dealer bonds required for Virginia, North Carolina and South Carolina.
Virginia Car Dealer Bond RequirementsFor all car dealerships operating within the state of Virginia the requirements are the same whether you are operating a new vehicle dealership, a used vehicle dealership or sell only cars, only trucks or even only anything else that would be considered a motor vehicle such as a motorcycle dealership. They all require a $50,000 Vehicle Dealer Bond. Be sure to check with our friendly and informative staff if you have questions or need help in qualifying for this surety bond.
North Carolina Auto Dealer BondsIn North Carolina the requirement for a dealership that sells any kind of vehicle whether it is new or used is also a $50,000 Auto Dealer Bond much like you saw in Virginia. However, the difference between North Carolina and Virginia is that here you are required to post an additional $25,000 surety bond for each additional salesroom after the $50,000 Auto Dealer Bond has been posted.
Surety Bonds for Vehicle Dealerships in South CarolinaThe difference between South Carolina and its two sister states above is that it requires a surety bond for different ways that you intend to sell those motor vehicles. If you are interested in simply selling new and/or used vehicles retail, then you will need to post a $30,000 MVD bond with the state. However, if you plan to run a wholesale auto auction, offer travel trailers or motorcycles or are planning to open a wholesale dealership you will need to pony up a $15,000 Motor Vehicle Dealer Bond. In addition, no matter what type of dealership you plan to open, this surety bond needs to be in place at the time that your licensing is begun.
Offering Auto Dealer Bonds at Reasonable RatesIf you think operating an automotive dealership is in your future, it doesn’t take a crystal ball to see that part of that dealership is going to be qualifying for surety bonds. If you are new to the business or have bad credit, this could be a problem. But here at BuySurety we know the business and can help you no matter what the situation. Come talk to us about your surety bond needs and find out just how reasonable and easy it is to get bonded through BuySurety.
Comments Off on Requirements for Virginia, North Carolina and South Carolina Auto Dealer Bonds
Debt Management Services
Massachusetts Surety Bond ChangesAfter sitting in the House for several months, House Bill 875 has finally been sent to the Senate Ways and Means committee as H3569. It looks likely to pass and will require all debt management service companies to post a surety bond as part of their licensing requirements. The amount of the bond will be determined at the time by the Commissioner of Banks.
Pennsylvania Debt Settlement Service Providers BondingIn a bill that will see the posted bond run to the Commonwealth for its benefits, Pennsylvania has decided on a $25,000 credit services bond requirement. This will be part of the new licensing requirements for debt settlement service providers and will also oblige that the bond run for the length of the license. An additional $25,000 penal bond will also be required as part of the licensing procedure.
Growing Movement toward Surety BondsAlthough they were defeated in legislature, there were bills for the requirement of licensing and the posting of surety bonds for all debt management service providers in Hawaii, Louisiana, New York and Washington. This marks a definite trend towards the institution of surety bonds as a licensing requirement in this industry in the coming years.
Find All Your Surety Bonds HereMany businesses that serve non-traditionally in the financial sector may find they will suddenly be required to post a surety bond in the coming years. If your business is considering the move to posting a surety bond as part of their licensing requirements, don’t get caught without them. We can supply any kind of surety bond for any industry in all fifty states. Contact our offices or visit our BuySurety website and find out just how easy it is to get the surety bond your industry requires, regardless of your credit rating or years in the industry.
Comments Off on Commercial Surety Bond Legislature for Debt Management Services
West Virginia Auto Dealer BondsThe Mountain State is well named, for driving through it is like riding a beautiful roller coaster. If you are considering getting your license for a vehicle dealership in West Virginia, you will be happy to know that the requirements are the same for both used and new vehicles of all types. You will simply need to post a Motor Vehicle Dealer Bond for $25,000 as part of the licensing procedure.
Ohio Auto Dealer Bond RequirementsThe Buckeye State has plenty of opportunities for anyone considering opening a car dealership in Ohio. If you want to do so, you will need to post two separate surety bonds for each dealership:
- A $25,000 Deputy Registrar Surety Bond
- A $25,000 Motor Vehicle Defect (MVD)Surety Bond
Car Dealership Requirements in MichiganYou have to assume that Michigan residents are stubborn, why else would they have decided to be called The Wolverine State? But these hardy people who are known for their pragmatism are smart enough to keep their regulations to a simple requirement. In Michigan you are required to post a $10,000 Motor Vehicle Bond for the dealership regardless of whether it sells new or used vehicles. It certainly keeps things tidy and easy to understand.
Getting Bonded the Easy WaySo now that you know what is required, are you ready to get bonded? Why not drop in to our handy surety bonds site BuySurety and find out just how fast and easy it is? We can help you with qualifying for a motor vehicle bond in any state and regardless of your credit rating. Come and talk to us today, and get that auto dealer bond you need now.
Comments Off on Michigan, Ohio and West Virginia Auto Dealer Bonds
IdahoService companies that provide service or repair or even tear-down of manufactured homes have in the past been required to provide a $5,000 license surety bond. This requirement has been repealed. Manufactured home installers will still be required to provide a surety bond as part of their license, however, as they are not considered a service provider. This change will extend to include mobile homes as well as manufactured homes.
North DakotaThe existing requirement for mobile home dealers to post a $10,000 permit surety bond has been increased to $50,000. In addition, dealers of manufactured homes are now going to be required to post the same surety bond amount as part of their licensing. Direct action is permitted on the bond with the aggregate liability limited to the bond amount.
South CarolinaA revision has been made to the licensing requirements for retail dealers of manufactured homes. The license will now require a credit score of 700 with a net worth of a minimum of $150,000. If the retailer cannot meet these requirements they will be then required to post a surety bond with the license.
License and Permit BondsMany states demand some type of license and permit surety bond as part of the licensing requirements. If you are considering a surety bond for your licensing needs, BuySurety can help. We provide permit and licensing bonds for all fifty states and for any kind of industry. Contact us today to find out how we can help you to meet all your surety bond requirement needs.
Comments Off on New Requirements for Surety Bonds for Manufactured Homes
Wisconsin Car Dealer BondsAlthough a car dealership has the same requirement for selling both new and used vehicles, a $50,000 car dealer surety bond, that doesn’t mean the requirements are simple in Wisconsin for an auto dealership license bond. The company must get bonded and keep the bond active for the full two years of the license period. In addition, that bond must be in force when the dealership applies to renew their license at the end of the two year period.
Illinois Auto BondsThe Illinois Motor Vehicle Department requires dealerships for both new and used vehicles to post a bond in the amount of $20,000 as part of their dealership license. The bond must be held by the designated agent for the dealership. No other type of vehicle dealer bond is required outside of this car dealer bond to get bonded for selling new and used vehicles in Illinois.
Indiana Car Bond RequirementsEveryone who knows Indiana knows it as The Hoosier State. Here the car dealership surety bond requirements are also very simple to follow, just like in Illinois and Wisconsin. All new and used car dealerships are required to have a $25,000 car dealer bond as part of their licensing. In addition, they have to be able to furnish that proof at the time of their licensing or renewal of their licensing.
Get Bonded TodayNeed a surety bond? We can supply, in addition to car dealer bonds, just about any kind of surety bond you need. Whether it is a license bond for your new business or a public official bond for the cities recently appointed staff, BuySurety can help. Come by our site today and see how fast and easy it is to get bonded with BuySurety.
Comments Off on Wisconsin, Illinois and Indiana Auto Bonds