Michigan Scrap Tire Collection Site Performance Bond

A Michigan Scrap Tire Collection Site Performance Bond is a type of surety bond required by the Michigan Department of Environmental Quality (MDEQ) for operating a scrap tire collection site in the state. The bond amount Varies depending on storage type and size.

• Outdoor storage: $25,000 per quarter acre
• Indoor storage: $2 per square foot
• $2,500 bond required for facilities storing less than 2501 tires.

The cost of the surety bond is usually between 1% and 5% of the bond amount, subject to a minimum premium and fees of $150. Surety1 will shop its many markets to procure the right price at the right terms.

How to Get a Michigan Scrap Tire Collection Site Performance Bond

At Surety1.com we make it easy to obtain this surety bond. Our simple, three step process is:

1. Complete the easy to navigate and secure online application. ¹
2. Review the free, no obligation quote from one of Surety1’s professional surety bond agents, usually within one business day. ²
3. Sign some paperwork and pay the bond premium

Once these steps have been completed, the Michigan Scrap Tire Collection Site Performance Bond will be shipped to the bond applicant.
^{1 -The name of the applicant on the surety bond application must match exactly the full legal business name of applicant for the license.
2- Subject to underwriter approval, based on aggregate surety bond exposure, additional underwriting information may be required}

Surety1.com is a service of AssuredPartners one of the largest and fastest growing insurance agencies in the nation. Representing over a dozen surety bond companies, Surety1.com is the premier online provider of surety bonds nationwide since 2003.

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Who Needs This Bond?

You need a Michigan Scrap Tire Collection Site Performance Bond if you operate a facility in the state that collects and stores scrap tires. This includes businesses like:

• Scrap Tire Processors: These facilities process scrap tires for recycling or other uses.
• Scrap Tire Collection Sites: These are locations where people can drop off their used tires.
• Tire Retailers: If a tire retailer collects a significant number of used tires, they might also need a bond.

Here’s a good rule of thumb: If your business accepts and stores scrap tires, it’s best to check with the Michigan Department of Environmental Quality (MDEQ) to determine if you need a bond.

Here are some resources that can help you determine if you need a bond:

• MDEQ Scrap Tire Collection Site and Processor Information: https://www.michigan.gov/egle/about/organization/materials-management/scrap-tires/collection-site-and-processor
• MDEQ Contact Information: https://www.michigan.gov/egle (Look for contact details for the Waste Management Division)