Indiana Motor Vehicle Dealer Bond

Written by JoAnn Smith on May 25th, 2017. Posted in Motor Vehicle Bonds, Surety Bond Blog

So you want to become a Motor Vehicle Dealer in Indiana and you need to get an Indiana Motor Vehicle Dealer Bond?  If you are applying for a bond for the first time it can be confusing and a downright daunting task. We understand that and are here to help.

Here are the absolutes:

  1. Must be a US Citizen
  2. Must not have past due child support
  3. No open tax liens
  4. Must not have open judgments
  5. No large amount of past dues on credit report.
A surety bond is a 3 party agreement between you (the principal), the obligee (the state) and the surety company.   The Indiana Motor Vehicle Dealer Bond is a compliance type bond.  You will have rules and regulations to follow to remain compliant with your license.  The bond guarantees that you will be compliant and if not the surety will pay the claim.  You, the principal, are the indemnitor. This means if there is a claim paid on the bond, you will be responsible to repay the surety company.  Having a bond claim paid out may result in cancellation of your bond. Surety companies review the credit of the owner(s) to determine the rate.  The better the credit the lower the rate.  It is important to know that once you are bonded your credit will be reviewed at every renewal period so keeping your credit in good shape or improving it each year will benefit you greatly.  Credit review is a review only and will not affect the credit score in any way. To apply for the Indiana Motor Vehicle Dealer Bond you may click here BuySurety.com.

Tags: , , , ,


Comments Off on Indiana Motor Vehicle Dealer Bond

Arizona Motor Vehicle Dealer Bond

Written by JoAnn Smith on May 24th, 2017. Posted in Motor Vehicle Bonds, Surety Bond Blog

So you want to become a Motor Vehicle Dealer in Arizona and you need to get the Arizona Motor Vehicle Dealer Bond?  If you are applying for a bond for the first time it can be confusing and a downright daunting task. We understand that and are here to help.

Here are the absolutes:

  1. Must be a US Citizen
  2. Must not have past due child support
  3. No open tax liens
  4. Must not have open judgments
  5. No large amount of past dues on credit report.
A surety bond is a 3 party agreement between you (the principal), the obligee (the state) and the surety company.   The Arizona Motor Vehicle Dealer Bond is a compliance type bond.  You will have rules and regulations to follow to remain compliant with your license.  The bond guarantees that you will be compliant and if not the surety will pay the claim.  You, the principal, are the indemnitor. This means if there is a claim paid on the bond, you will be responsible to repay the surety company.  Having a bond claim paid out may result in cancellation of your bond. Surety companies review the credit of the owner(s) to determine the rate.  The better the credit the lower the rate.  It is important to know that once you are bonded your credit will be reviewed at every renewal period so keeping your credit in good shape or improving it each year will benefit you greatly.  Credit review is a review only and will not affect the credit score in any way. To apply for the Arizona Motor Vehicle Dealer Bond you may click here BuySurety.com.

Tags: , , ,


Comments Off on Arizona Motor Vehicle Dealer Bond

California Motor Vehicle Dealer Bond

Written by JoAnn Smith on May 23rd, 2017. Posted in California, Motor Vehicle Bonds, Surety Bond Blog

So you want to become a Motor Vehicle Dealer in California and you need to get a California Motor Vehicle Dealer Bond?  If you are applying for a bond for the first time it can be confusing and a downright daunting task. We understand that and are here to help.

Here are the absolutes:

  1. Must be a US Citizen
  2. Must not have past due child support
  3. No open tax liens
  4. Must not have open judgments
  5. No large amount of past dues on credit report.
A surety bond is a 3 party agreement between you (the principal), the obligee (the state) and the surety company.   The California Motor Vehicle Dealer Bond is a compliance type bond.  You will have rules and regulations to follow to remain compliant with your license.  The bond guarantees that you will be compliant and if not the surety will pay the claim.  You, the principal, are the indemnitor. This means if there is a claim paid on the bond, you will be responsible to repay the surety company.  Having a bond claim paid out may result in cancellation of your bond. Surety companies review the credit of the owner(s) to determine the rate.  The better the credit the lower the rate.  It is important to know that once you are bonded your credit will be reviewed at every renewal period so keeping your credit in good shape or improving it each year will benefit you greatly.  Credit review is a review only and will not affect the credit score in any way. To apply for the California Motor Vehicle Dealer Bond you may click here BuySurety.com.

Tags: , , , , ,


Comments Off on California Motor Vehicle Dealer Bond

Texas Motor Vehicle Dealer Bond

Written by JoAnn Smith on May 22nd, 2017. Posted in Motor Vehicle Bonds, Surety Bond Blog, Texas

So you want to become a Motor Vehicle Dealer in Texas and you need to get a Texas Motor Vehicle Dealer Bond?  If you are applying for a bond for the first time it can be confusing and a downright daunting task. We understand that and are here to help.

Here are the absolutes:

  1. Must be a US Citizen
  2. Must not have past due child support
  3. No open tax liens
  4. Must not have open judgments
  5. No large amount of past dues on credit report.
A surety bond is a 3 party agreement between you (the principal), the obligee (the state) and the surety company.   The Texas Motor Vehicle Dealer Bond is a compliance type bond.  You will have rules and regulations to follow to remain compliant with your license.  The bond guarantees that you will be compliant and if not the surety will pay the claim.  You, the principal, are the indemnitor. This means if there is a claim paid on the bond, you will be responsible to repay the surety company.  Having a bond claim paid out may result in cancellation of your bond. Surety companies review the credit of the owner(s) to determine the rate.  The better the credit the lower the rate.  It is important to know that once you are bonded your credit will be reviewed at every renewal period so keeping your credit in good shape or improving it each year will benefit you greatly.  Credit review is a review only and will not affect the credit score in any way.   To apply for the Texas Motor Vehicle Dealer Bond you may click here BuySurety.com.          

Tags: , ,


Comments Off on Texas Motor Vehicle Dealer Bond

Ohio Medical Marijuana Cultivators Surety Bond

Written by JoAnn Smith on May 10th, 2017. Posted in Surety Bond Blog

Florida pot growers will need performance bonds.

Ohio Pot Growers will need a Surety Bond

Ohio Surety Broker Set to Offer The Ohio Medical Marijuana Cultivators Surety Bond. In September, 2016, The Ohio Legislature and Governor John Kasich approved the medical marijuana program. Ohio Medical Marijuana Control Program is the official State agency promulgating the rules and regulations for the Cultivators.  They will be accepting applications for the Cultivators in June.  For Level II cultivator June 5 – 16, 2017.  Level I cultivator applications will be accepted June 19-30, 2017.  The cultivator must show financial responsibility by means of an escrow account or a Surety Bond.  Level II requires $75,000.  Level I required $750,000 of a surety bond or escrow account. To control supply and ensure ample production, licensees need to exhibit sufficient resources to address the significant risk within the marijuana industry. Failure to thrive can directly affect the ability to provide products to patients. Requiring security resources ensures that the industry can withstand risk within these first years and protects the ability of patients to receive safe, quality products. The BuySurety team is ready for your Ohio Medical Marijuana Cultivator Surety Bond application.   Cultivators may apply for the bond at www.buysurety.com or call 1-800-600-9240.  We will need financials with cash verified via bank statements and background on experience of personnel.

Tags: , , , ,


Comments Off on Ohio Medical Marijuana Cultivators Surety Bond