If you’re a motor vehicle body shop in the state of Utah and need a surety bond, look no further. We’ve made a quick guide to navigating the ins and outs of surety bonds: what they are, how to get one, and how much it will cost.
What is the Utah Motor Vehicle Body Shop Bond?
A surety bond is a three-party instrument by which one party guarantees or promises a second party the successful performance of a third party. The Surety Company, you as the principal and the Obligee. The Utah Motor Vehicle Body Shop Bond has a limit of $20,000 and is required by the State of Utah Motor Vehicle Enforcement Division (the Obligee) to activate your license.
A three-party instrument?! Sounds complicated… It’s not.
Essentially, a surety bond is a form of protection for the public in the case that a licensed business fails to uphold certain standards or specific legal provisions. If the public incurs any damages due to a licensed business breaking licensing laws, this bond ensures that the public will be compensated for those damages. The Surety Company will incur the cost of compensation, therefore protecting the Obligee. Please note that the principal(s)—the owner(s) of the business—will be held responsible for the damages.
Being bonded is vital because it ensures your customers that you are a trustworthy and reliable business. Plus, Ezsuretybonds.com makes it easier to get bonded than finding someone to agree with you that the toilet paper roll goes over…not under.
How to Get Your Bond
Ezsuretybonds.com has simplified the application process to save you time, and since we all know how that saying goes…money! Surety bonding is primarily based on personal credit and in many cases, Ezsuretybonds.com can auto-approve you for this bond.
The Cost to You
At Ezsuretybonds.com, you can obtain your Utah Motor Vehicle Body Shop Bond for as low as $200, plus additional shipping fees and costs. At no additional cost, a stamped, sealed and signed version of the bond will be mailed to you. Since we are based in Georgia, most clients receive their bond in the mail within 3-5 days.
In a time-crunch? For a small fee, surety bonds with raised seals and wet signatures can be delivered overnight on any business day for the next business day via FedEx.
As I’ve mentioned, surety bonding is primarily based on your credit. Times are tough—we get it—apply anyway! We’ve helped many people in the same situation and will do our best to get you approved, find you a reasonable quote, and contact you within 24 hours. We are here to help, so let us make this a seamless experience for you. That way you can focus on more important things, such as winning that argument with your spouse about the toilet paper roll. For any other questions you may have about surety bonds, please visit our FAQ page.