The Arizona Title Service Surety Bond is required for Authorized Third Parties (ATPs) of the Arizona Motor Vehicle Division. The bond is required to help ensure that Title Service company responds to damages to any person who suffers a loss due to non-payment by the title service company of a title, registration, or other related fee or tax paid to the bond holder. The bond also protects clients of the company from insolvency, discontinuance of business, or any unlawful act by the title service company.
ATPs that handle title and registration are private companies granted access to the MVD Title and Registration Database to issue license plates, registrations, tabs, titles and various permits. Most are open to the public and offer extended hours. Some third parties conduct transactions for their internal fleets only.
How to get an Arizona Title Service Surety Bond
At Surety1.com we make it easy to obtain this surety bond. Our simple, three step process is:
- Complete the easy to navigate and secure online application. 1
- Review the free, no obligation quote from one of Surety1’s professional surety bond agents, usually within one business day.
- Sign some paperwork and pay the bond premium
Once these steps have been completed, the Arizona Title Service Surety Bond will be shipped to the bond applicant.
1 -The name of the applicant on the surety bond application must match exactly the full legal business name of applicant for the license.
The cost of the surety bond is usually between 1% and 3% of the bond amount, subject to a minimum premium and fees of $150. Surety1 will shop its many markets to procure the right price at the right terms.
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.
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Here is a breakdown of the required surety bonds for different ATP services:
- Vehicle Title Service Bond:
- Required for ATPs who handle vehicle titles, including transfers, duplicates, and surrendered titles.
- Bond amount: 1.5 times the appraised value of the highest-valued vehicle the ATP handles.
- Minimum bond amount: $25,000
- Appraisal: Done by MVD or authorized third party.
- Registration Service Bond:
- Required for ATPs who process vehicle registrations, including renewals, replacements, and transfers.
- Bond amount: $25,000
- No appraisal required.
Why is there a need for an Arizona Title Service Surety Bond?
The Arizona Title Service Surety Bond is for the protection of the public, not you. The state of Arizona wants to make sure that if there is anyone who will suffer from financial loss because of your business, they will be fully compensated. The payout will come from the surety company, but you, as the principal, will still have to pay the company back in full.
How to Get Your Arizona Title Service Surety Bond
- Complete an online application. It’s free and no-obligation.
- One of our surety experts will contact you with a firm quote and an agreement to sign.
- Provide payment and your signed agreement, and then you will receive your Surety Bond!
If you have any questions, please call us at 877-654-2327.
Surety1 was founded in 2003 and helps thousands of clients find the best prices on their surety bonds. We take pride in our work so that we can give you great service. Learn more about Surety1.