Florida Auto Dealer Bond – Florida Motor Vehicle Dealer Bond- Florida Car Dealer Bond – Florida MVD Bond
A Florida Dealer Bond may be called any one of these in Florida: Florida Auto Dealer Bond – Florida Motor Vehicle Dealer Bond- Florida Car Dealer Bond – Florida MVD Bond is a mandatory requirement, set in place to protect car buyers. It also guarantees the state that you will run your business in accordance with state and federal laws that apply to car dealerships.
Why DO I Need the $25,000 Car Dealer Bond – Motor Vehicle Dealer Bond?
The $25,000 Florida Car Dealer Bond or Motor Vehicle Dealer Surety Bond requirement acts as a form of recourse. The Car Dealer Surety Bond can be claimed on if a consumer files a complaint with the State of Florida and offers reimbursement for damages to the consumer caused by violations of the regulations which govern car or motor vehicle dealer licensees. Franchise motor vehicle dealer bonds in Florida expire annually on December 31 and independent auto dealer bonds expire on April 30, so your bond premium could be prorated depending on when you buy it.
Florida’s Premier Bond Shop
Seaman’s Insurance Group, Florida’s Premier Boutique Independent Insurance Agency is St Augustine and North East Florida’s local Florida Auto Dealer Bond – Florida Motor Vehicle Dealer Bond- Florida Car Dealer Bond – Florida MVD Bond guru. If you are in need of a Dealer Bond, we are here to help. Seaman’s Insurance Group is owned and operated by an experienced professional that has underwritten bonds, handled Surety Bond Claim files that truly enjoys selling and shopping for your Surety Bond needs. No other agency owner in North East Florida has this type of experience. Matt Seaman is eager to use his Knowledge and Experience to help you with all of your Surety Bond needs! Contact Us Today!
What is a Florida Auto Dealer Bond and why do I need one?
By posting a Florida Motor Vehicle Dealer Bond or MVD surety bond, auto dealers promise comply with the conditions of any written contract made by him/her in connection with the sale or exchange of a motor vehicle. The bond holds dealers to the standards set in Florida Statutes.
If the motor vehicle dealer fails to comply with these terms, they promise to pay any person who suffers damages or financial loss as a result of the dealer’s unlawful business practices up to the full bond amount.
Terms of the Florida Auto Dealer Bond
Franchise motor vehicle dealer bonds in Florida expire annually on December 31 and independent auto dealer bonds expire on April 30 every year, so your bond premium could be prorated depending on when you buy it.
How to become an auto dealer in Florida
To become a licensed auto dealer in Florida, motor vehicle dealers need to:
- have a business location approved by a regional office, compliance examiner/officer
- complete the department-issued application form
- pay the fee of $200 for each main location
- post a $25,000 surety bond
- provide a copy of the location lease or proof of ownership
- provide a copy of a pre-licensing dealer training course completion certificate from a department-approved Dealer Training School
- provide the sales tax number and federal employer identification number