Why Bonded Titles are Needed?
Posted: October 13, 2012
Have you tried to register a vehicle that you purchased without the proper documents. Unable to locate an original title or other important document that is required to complete the registration process. In some cases you financed the vehicle and the auto dealer or auto finance company closed after paying off the vehicle. Often times a bond is needed to allow the transaction to continue...
What are Guardianship Bonds?
Posted: June 16, 2012
A legal guardian is a person who has the legal authority (and the corresponding duty) to care for the personal and property interests of another person, called a ward. Usually, a person has the status of guardian because the ward is incapable of caring for his or her own interests due to infancy, incapacity, or disability. Most countries and states have laws that provide that...
Auto Dealer Bond
Posted: April 9, 2012
Auto dealer bond also known as MVD bond, motor vehicle dealer bond, used car dealer bond is required by the State to obtain a dealership license. Auto dealer bond does not protect the used car dealer from lawsuits, but it protects the consumer from fraud or misrepresentation by the car dealer. Auto Dealer Bond guarantee compliance with state laws, each state sets its own bond amount and expiration date. Motor Vehicle Department charges a...
How to get a Auto Dealer License?
Posted: April 1, 2012
Auto Dealer License. Contact the Department of Transportation - Motor Vehicle Department ( MVD) or go to their Web site in your State. If you plan on doing any financing or arranging financing you also need a license from the Office of the Consumer Credit Commissioner. For a retail used car dealer, you must pay a license fee for dealer license application plus a fee per metal dealer...
What is a Surety Bond?
Posted: February 11, 2012
A surety bond is a contract among at least three parties: The obligee - the party who is the recipient of an obligation, The principal - the primary party who will be performing the contractual obligation, The surety - who assures the obligee that the principal can perform the task European surety bonds are issued by banks and are called "Bank Guarantees" in English and "Caution"...