Michigan Mobile Home Broker | $10,000 Mobile Home Broker Surety Bond

Also known as: mobile home broker bond

Type of Bond

A mobile home broker bond, also known as a manufactured home broker bond, is a type of surety bond required for individuals or businesses engaged in the sale, brokerage, or dealership of mobile homes or manufactured homes. It serves as a financial guarantee that the broker will comply with applicable laws, regulations, and ethical standards in the mobile home industry. The purpose of a mobile home broker bond is to protect consumers and the public from potential financial losses resulting from fraudulent or unethical practices by mobile home brokers. The bond ensures that the broker operates with honesty and integrity, follows industry regulations, and fulfills their contractual obligations. The bond is a contractual agreement among three parties: the mobile home broker (the principal), the government agency or regulatory authority overseeing mobile home sales and brokerages (the obligee), and the surety bond provider (the surety). If the bonded broker violates any regulations, engages in fraudulent activities, or fails to meet their obligations, a claim can be filed against the bond. The surety bond provider will investigate the claim, and if it is determined to be valid, the surety will compensate the affected parties up to the bond's specified amount. The specific bond requirements for mobile home brokers can vary by state and local regulations. The bond amount is typically determined by factors such as the broker's sales volume or financial responsibility. Mobile home brokers are generally required to obtain and maintain a bond as part of their licensing or registration process. To obtain a mobile home broker bond, the broker typically works with a surety bond provider. The bond application process involves a financial review and underwriting assessment. Brokers may need to renew the bond periodically, often on an annual basis or as required by the regulatory authority. Understanding and complying with the specific bond requirements and regulations in their jurisdiction is essential for mobile home brokers to maintain their licensing status and operate legally. Consulting with legal and financial professionals can help ensure compliance and provide guidance on obtaining the necessary bond coverage.


Program

The price you'll pay for your $10,000 Mobile Home Broker 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 $10,000 Mobile Home Broker 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 $10,000 Mobile Home Broker 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 Mobile Home Broker Bond Application process.

The Michigan Mobile Home Broker Bond amount is currently set at  $10,000.

Obligee Information

An obligee is the entity that is requiring you to have the Mobile Home Broker bond.

Obligee: Michigan Department Consumer & Industry