Are you a motor vehicle dealer/special equipment dealer in the state of Utah? Did you just earn your license and now you need to obtain a surety bond? Fret not, in a few minutes you’ll know everything you need to know about the Utah Motor Vehicle Dealer / Special Equipment Dealer Surety Bond and be on your way to fulfilling that requirement.
What Exactly is a Utah Dealer Bond?
It’s a surety bond with a bond amount of $75,000 required by the State of Utah Motor Vehicle Enforcement Division (commonly referred to as the Obligee). 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.
Wondering if You Can Do Business Without it? You Can’t.
Why not, you ask? Well… some entity, in this case the State of Utah Motor Vehicle Enforcement Division, required you to obtain a surety bond to activate your license. Essentially, this bond will protect the public from any damages incurred as a result of a licensed business failing to uphold certain laws and regulations. The Surety Company takes the responsibility of these damages off the Obligee and ensures the business is held accountable for those damages.
This bond will provide your customers with the confidence that you are a responsible and trustworthy business. And as a business owner, that is exactly the reputation you should strive for. Now, onto your most pressing questions…
How Can You Get One and What Will it Cost You?
Well, seeing as time is money and money is… well… money. Ezsuretybonds.com can help you save both!
All you need to do is apply. Ezsuretybonds.com provides a simple application process that takes mere minutes to fill out. Most surety bonds are based on personal credit and most people are auto-approved.
Has your credit seen better days? No judgment here, it happens to the best of us. Apply anyway! We have helped many people in the same situation and will do our best to get you approved, find you a reasonable quote, and contact you in 24 hours.
These bonds can be quite costly, sometimes exceeding $5,000. Fortunately, Ezsuretybonds.com offers this bond starting at only $750 depending on your credit, with additional shipping costs and fees. 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.
Need it sooner? For a reasonable fee, surety bonds with raised seals and wet signatures can be delivered overnight on any business day for the next business day via FedEx.
There’s no reason obtaining your surety bond should be a difficult or stressful endeavor. Let us help you and if you have any other questions about surety bonding, please visit our FAQ page.