Michigan Junk Dealer | $2,000 Junk Dealer Surety Bond

Also known as: junk dealer bond

Type of Bond

A junk dealer bond, also known as a scrap dealer bond or metal recycler bond, is a type of surety bond required for individuals or businesses engaged in the buying, selling, or recycling of scrap metal or other valuable materials. It acts as a form of financial guarantee to protect the public and government entities from fraudulent or unethical practices by junk dealers. The purpose of a junk dealer bond is to ensure that dealers comply with applicable laws, regulations, and licensing requirements in the scrap metal industry. It helps safeguard against potential financial harm caused by activities such as theft, fraud, or improper handling of materials. The bond is a contractual agreement among three parties: the junk dealer (the principal), the government agency or licensing authority (the obligee), and the surety bond provider (the surety). If the junk dealer fails to fulfill their obligations or engages in unlawful activities, a claim can be filed against the bond. The surety bond provider will investigate the claim and, if valid, compensate the affected parties up to the bond's predetermined amount. The specific bond requirements, such as the bond amount and duration, vary by state and local regulations. Junk dealers must typically obtain and maintain a bond as a condition of their license or permit to operate legally. Failure to comply with bond requirements can result in penalties, fines, or the revocation of the dealer's license. It's important for junk dealers to understand the specific bond requirements in their jurisdiction and work with a reputable surety bond provider to obtain the necessary bond coverage. This helps ensure compliance with legal obligations and promotes trust within the industry.


Program

The price you'll pay for your $2,000 Junk Dealer Bond is generally based on your personal credit score. Start a free online quote by just completing a simple app or by calling 888-518-8011. Our experts will walk you through a very simple process. Compare our quote as the very lowest price, and then you're good to go! It's that simple!

We provide all types of $2,000 Junk Dealer Bonds. Worldwide Insurance Specialists, Inc. has "in house" underwriting authority with the largest and best Surety (Insurance) companies in the world including, Great American, Liberty Mutual, Philadelphia, Travelers, and CNA Surety. All of these surety bond companies are A-rated under the AM Best credit rating system, and T-listed with the U.S. Department of Treasury. This guarantees that by getting bonded through us, you will be provided the backing of these highly trustworthy and reliable companies.


Application

The application process for a $2,000 Junk Dealer Bonds is easy! Many Bonds are INSTANT ISSUE! Easy Application, no underwriting, no credit check, no GIA required. Our NEW Desktop underwriting program provides you with a rapid approval process used to determine the degree of risk that you (the Principle) complete a project or obligation. Non-INSTANT ISSUE quotes can also get instantly approved. Submissions require very little information from you. Once you file and sign an indemnity agreement, we issue the Bond. It's that simple! We quote and issue Surety Bonds of every type and will help you through the entire process. These applications only require basic information about your business, bond type, and ownership structure. Once the application is complete, we submit to the insurance company (Surety) who will then issue your bond. Don't pay too much! Get your Bond Fast, and Easy with the best price! Click here to start the Junk Dealer Bond Application process.

The Michigan Junk Dealer Bond amount is currently set at  $2,000.

Obligee Information

An obligee is the entity that is requiring you to have the Junk Dealer bond.

Obligee: Consumer Affairs Department Business License Center
Street: 105 Coleman A Young Municipal Center
State: Michigan
Zip: 48226