The Massachusetts Turnpike Authority Bond is required by the Massachusetts Department of Transportation. The bond states that the bondholder shall pay Department of Transportation the full amount of the E-ZPass MA monthly invoice within the due date specified on the invoice. This bond is required for those who will be applying for a commercial account and would like to have a postpaid option for payment, instead of prepaid. The amount for the bond is set at $5,000.
What is the purpose of a Massachusetts Turnpike Authority Bond?
The E-ZPassMA provides customers electronic toll through the use of a transponder, which is a small electronic device that will be attached to your windshield. While traveling to your location, and you pass by a toll booth, your toll will be deducted from your account.
The E-ZPassMA can be used for individual or commercial accounts. If you are applying for a commercial account, instead of direct payment or prepaid option, you can choose the postpaid option where your account will be invoiced on a monthly basis. The invoice must be paid within 30 days. To get this option, you must post a surety bond with the Department of Transportation in the amount of $5,000.
How can I get a Massachusetts Turnpike Bond?
Complete our easy to navigate online application. Within one business day, one of our licensed agents will contact you with a no-obligation quote for your bond (the “premium”). Once any necessary paperwork is signed and the premium payment is processed, your surety bond will be shipped to you via USPS Priority Mail (overnight shipping options also available).
The surety bond experts at Surety1 are here to help you get bonded quickly and reliably. We work with over a dozen “A” rated surety markets to ensure we find you the lowest rate for your bond. We are also licensed in all 50 states and maintain an A+ rating by the Better Business Bureau.