The Rhode Island Auto Wrecking-Salvage Yard Bond is required by the State of Rhode Island, Department of Business Regulations. The General Treasure has set the bond amount at $10,000. The bond states that the bondholder shall account to any person that they obtained monies for the payment of services, negotiated, placed, or affected by as an Automobile Wrecking and Salvage Yard.
Who needs a Rhode Island Auto Wrecking-Salvage Yard Bond?
Individuals wishing to operate an Auto Wrecking Yard or Auto Salvage Yard need to be licensed with the state. The bond is part of the licensing requirements.
An auto wrecking or auto salvage yard is land upon which a person, firm, corporation or association does one of the following to motor vehicles or parts:
- Store for later dismantling or destruction
What are other requirements for licensing?
Aside from the surety bond, applicants need to complete the Auto Wrecking & Salvage Yard Application. Provide proof of zoning and attach the Tax Payer affidavit. Have a Criminal history report for all the owners, partners, managers and corporate officers. Pay the license fee of $750.00. A separate application and license fee must be filed for each location.
How do I get a Rhode Island Auto Wrecking-Salvage Yard Bond with Surety1?
First, start the process by completing our easy to navigate, free free online application form. Then, after your application has been submitted, one of our surety agents will contact you with a no-obligation quote on the bond premium. After that, once you are ready to move forward, you just need to pay the premium and sign the agreement. Lastly, your Auto Wrecking-Salvage Yard Bond will be mailed to you by USPS Priority Mail. Overnight delivery is also available for an additional fee.
Founded in 2003, licensed in all 50 states, we continue to maintain an A+ rating from the Better Business Bureau.
Contact us today as our friendly agents are more than willing to assist you with all your surety bond needs.