This surety bond is required by the State of Connecticut Department of Motor Vehicles under Section 14-52(b) or Section 14-15 of the Connecticut General Statutes in the amount of $50,000. This bond ensures that the Principal abides by the provisions of all applicable laws relating to the conduct of the business, provides indemnity for any loss sustained by someone as a result of any acts of the licensee constituting grounds for suspension or revocation of the license, and protects the consumer if the licensee goes out of business. The premium on this bond is typically as little as $500.
To Acquire a Connecticut Motor Vehicle Dealer Surety Bond:
- Complete an online application.
- One of our expert commercial surety agents will call and email you with the firm quote and an agreement to sign.
- Provide payment and your signed agreement, then you will receive your bond!
** all bonds are subject to the underwriting terms and conditions of the issuing company.