Pennsylvania MVD Bond

Pennsylvania MVD Bond

Pennsylvania MVD Bond


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What is an Pennsylvania Dealer Bonds and related services? 


Pennsylvania  requires several different bonds for Manufacturer/Dealer, Messenger Service, Full Agent, Salvor and car agents. The bonds ensures that the principal shall comply with the conditions of any contract made by such licensee in connection with the sale or exchange of any motor vehicle and shall not violate any of the provisions of law relating to the conduct of the business for which it is licensed. the conditions of this obligation is that if the Principal, during the term of this bond or any renewal, in conduct of the business of manufacturer, dealer, full agent, card agent, messenger service, and/or salvor shall comply with the provisions of the law and regulations governing the conduct of such business and shall not cause any monetary loss to the Commonwealth in connection with the business limited to fees, sales tax and monetary penalties, then this obligation shall be null and void; otherwise it shall remain in full force, virtue, and effect.


Required bond amount


The required bond amount must be maintained at all times, with no exceptions. If, at any time, the amount for which the Principal is bonded shall fall below the required amount, the Principal’s authorization to operate in accordance with the applicable regulations shall be void.

Manufacturer/Dealer: $20,000 for each place of business

Messenger Service: $50,000 - Additional $50,000 per branch office.

Full Agent: $30,000 for each place of business

Salvor: $10,000 for each place of business

Card Agent: $3,00


The State requires a Car Dealer bond for each license you hold:  

$50,000 surety bond for New and Used Motor Vehicle Dealers, Public Consignment Auction Dealers and for all other types of dealers



Different parts of a bond:


 There are 3 parts to a MVD surety bond. The Principal "YOU", The Surety Company, and the Obligee. The Principal is the business or individual applying for the MVD Surety Bond. The Obligee  is the individual or entity requiring the Surety Bond and the Surety Company is the company who provides the Surety Bond coverage.


Try our 100%  Secure MVD Bond Online Application to get the Lowest Lost title bond rates in all 50 States.



Program:


You can buy your Pennsylvania Dealer bond (Apply) online immediately


Pennsylvania MVD Bond Requirements and Information:


The bond form and requirements:

http://www.dot.state.pa.us/public/dvspubsforms/BMV/BMV%20Forms/mv-375.pdf



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