A freight broker bond (BMC-84) guarantees payment to motor carriers and shippers in the event a freight broker fails to meet the requirements of the agreement or contract. Effective as of October 2013, the Federal Motor Carrier Safety Administration (FMCSA) requires all freight brokers and freight forwarders to post a $75,000 Freight Brokers Surety Bond. read more
In addition to helping you register your vehicle, a Title Bond proves that you own the vehicle and have the rights to obtain insurance or even sell the vehicle.
Vehicles that require a title include: automobiles, trailers, motorcycles, scooters, ATV’s, custom built vehicles, motorhomes, buses, mobile homes, trailer homes, semi trucks and trailers, boats, PWC, and aircraft. read more
In Alabama, surety bonds are issued at nearly all governmental levels. The minimum amount and the cost the contractor pays to purchase them vary, and determining this specific information is often difficult and time consuming. read more
Typically a surety bond is issued for a defined term, usually 1 year. The premium will be based upon numerous factors, including but not limited to the following: Risk associated with the specific bond, Creditworthiness/financial strength of the applicant, Language on the specific bond form. read more
A Motor Vehicle Dealer/Franchise Dealer is anyone who is actively engaged in the business of selling, offering for sale, soliciting or advertising for sale any motor vehicle or recreational vehicle. By statute, anyone who sells more than 5 motor vehicles in the State of Tennessee within 1 calendar year, are required to be licensed by the State of TN by the Motor Vehicle Commission as a Motor Vehicle Dealer. read more
With changes in case law, many car dealers may find themselves unable to renew their bond as multiple surety companies have elected to no longer write this particular bond in the state of Florida. Dealers must provide proof of their surety bond renewal by no later than 4/30. read more