The Arizona Third Party Bond is required by the Arizona Department of Transportation. It is a type of surety bond. The purpose of the bond is enforce to help protect any person who suffers loss from the following reasons from the Arizona Third Party Bond.
The Arizona Revised Statutes defines “authorized third party” as an entity that has executed a written agreement and is authorized by the department to perform limited or specific functions such as title and registration, motor carrier licensing and tax reporting, dealer licensing, driver licensing, etc.
In order to be a third party, you must be authorized by the Department of Transportation. One of the requirements that need to be submitted along with the application form is a surety bond, with the applicant as the principal and the state as the obligee. The surety bond must be issued by a surety company that is licensed to do business in the state of Arizona. The amount is at least $100,000 per location as per the Arizona Revised Statutes.
This surety bond ensures the state that you will do your business in a professional manner, and should there be anyone who suffers financial loss due to your inability to follow rules and regulations, that person will be properly compensated.
The process is easy. To receive your free, no obligation quote:
Once these steps have been completed, the Arizona Third Party Bond will be shipped to you via USPS priority mail. Overnight shipping is also available. If you encounter and questions along the way, reach out to Surety1 via email at [email protected] or by phone at (877)654-2327
Surety1.com is a service of AssuredPartners one of the largest and fastest growing insurance agencies in the nation. Representing over a dozen surety bond companies, Surety1.com is the premier online provider of surety bonds nationwide since 2003 and maintains a A+ rating by Better Business Bureau.