Motor vehicle dealers are required to post a Missouri Motor Vehicle Dealer Bond as part of the process to license the dealership. The amount of the bond depends on what type of vehicles are to be sold, the amount of vehicles you plan to sell, and other factors. Read our Car Dealer License Guide to learn more about how to get your dealership licensed and bonded.
The price for the bond, also known as the bond premium, is only a small fraction of the bond amount.
Since this bond is continuous, it remains in full force and effect until cancelled. If the bond is cancelled, a written notice of cancellation must be submitted to the Missouri Department of Revenue. Bond cancellation comes into effect 30 days after the Department receives the cancellation notice.
This bond guarantees the principal will abide by all Missouri state laws and regulations.
Vehicle dealers that must be bonded include: power sport dealers , trailer dealers, new motor vehicle franchised dealers, boat dealers, wholesale motor vehicle dealers, and used motor vehicle dealers.
The applicant should verify the bond amount with the obligee before applying for the bond to ensure the bond amount is correct.
Surety1 is not directly involved with the licensing process, but we’ve compiled this information which may helpful for you.
State licensing fees and requirements:
All licensing fees are required by the obligee, not the surety company.
For more licensing information, visit Missouri’s official website.
Its easy, simply click here to access our easy to navigate, online application. Then, usually within 1 business day, an agent will get in touch with you with a frim quote for your bond. Then, make payment and sign some important paperwork and your bond will be shipped. Overnight shipping is available for a nominal additional fee.
Surety Solutions Insurance Services, Inc. (Surety1) has been providing surety bonds in Missouri since 2003. The company has an A+ rating by the Better Business Bureau and represents over a dozen “A” rated surety markets.