The Colorado Motor Carrier Surety Bond is required by the Public Utilities Commission in the State of Colorado at a bond amount of $50,000. The commission requires a motor carrier of towed motor vehicles to be bonded for the purpose of paying any civil penalty assessments made by the Commission against the carrier that the carrier fails to pay when due. Such bond must be filed with and drawn in favor of the Public Utilities Commission of the State of Colorado.
What are the requirements to get a Towing Carrier Permit in Colorado?
According to the Code of Colorado Regulations, a motor carrier means any person owning, controlling, operating, or managing any motor vehicle that provides transportation in intrastate commerce pursuant to Article 10.1 of Title 40, C.R.S. In order to get a permit to be a motor or towing carrier in the state, the following requirements must be met:
- Payment of the annual application fee in the amount of $150.00 and the motor vehicle stamp at $45.00.
- If you are a sole proprietor, you must submit an Affidavit of Eligibility for Sole Proprietor. For the other business structures, you must submit a Certificate of Good Standing or Certificate of Existence or Certificate of Incorporation.
- A Uniform Motor Carrier Bodily Injury and Property Damage Liability Surety Bond (aka a CO Motor Carrier Surety Bond or NARUC FORM G) with a minimum coverage of $750,000 for any vehicle GVWR.
Where can I get a Colorado Motor Carrier Surety Bond?
Our bonding experts at Surety1 can help you get bonded quickly and easily! Simply fill out the free online application and one of our licensed agents will follow up with you within one business day with a firm quote. Once any necessary paperwork is signed and premium payment is submitted, your bond will be filed via the CO Public Utility Commission’s filing system.
Surety1 has been issuing bonds since 2003, so it understands the need for an easy, reliable bonding process. Rated A+ by the Better Business Bureau and licensed in all 50 states!