Nebraska Motor Vehicle Dealer Bond

Motor vehicle dealers are required to post a 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.

 

Surety Bond

• Required by: Nebraska Motor Vehicle Industry Licensing Board
• Minimum Bond Amount: $50,000
• Maximum Bond Amount: Varies
• Valid: 1 year – Expire December 31st – Renewable

This bond guarantees the principal will abide by all Nebraska state laws and regulations along with all laws outlined in the Nevada Revised Statutes.

The price for the bond, also known as the bond premium, is only a small fraction of the bond amount.

The applicant should verify the bond amount with the obligee before applying for the bond to ensure the bond amount is correct.

This bond expires annually on December 31st. The bond must be renewed annually in order for it to remain valid. This is a requirement of the obligee, not the surety company.

If the bond is cancelled, a written notice of cancellation must be submitted to the obligee at least 60 days before the cancellation date.

Licensing

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:

• Surety bond
• License application
• Supporting application documents
• Business hours, telephone number, and location
• $20 application fee

All licensing fees are required by the obligee, not the surety company.

Licenses expire annually on December 31st. Licenses must be renewed annually in order to remain valid.

For more licensing information, visit Nebraska’s official page.