We are a surety only agency that thrives on creating an unbeatable client experience! Our industry leading bond volume allows us to create programs that can be tailored to each individual client, getting them their bond faster at the cheapest cost! Below are a few reasons our clients love to work with us:
Business licensing in North Dakota has mandatory requirements you must complete to operate a business within the state. One of the main obligations is to acquire a motor vehicle dealer bond. Posting a surety bond ensures the buyer that state and federal laws will be followed correctly by the operating vehicle dealer. North Dakota auto dealer bonds have the same expiration date as the accompanied business license, these both must be renewed every year.
The cost of surety bonds varies based on a couple of financial factors, such as a review of the applicant’s credit and industry experience.
North Dakota vehicle dealer bonds are required to be posted at $25,000 by the North Dakota Department of Transportation. The applicant of the surety bond will not pay the full bond amount but only a percentage, this percentage is based on your personal credit, you could receive as low as 0.5% on your bond!
Bonds are posted to protect the public, not the business. Apart from the bond being the main requirement of your business license this bond prevents the buyer from any fraud or illegal activity. When a claim is made against the bond, the surety company will pay the claim amount, but the principle (auto dealer) is responsible to repay any claims.
Obtaining a surety bond is made quick and straightforward at Bonding Solutions. Take two minutes to fill out our online application or call. Once we receive the correct applicant information, we will send you our low pricing and terms. After you pay for your bond, we will email and ship it to you the same day!Get Started