About the New Mexico Motor Vehicle Dealer Bond
The Motor Vehicle Dealer bond is a contractual agreement between three parties. You are the principal. The obligee is the state Motor Vehicle Division. The surety is the third party which provides the bonding. Auto dealer bonds do not protect the principal from lawsuits, but rather it protects the consumer from fraud or misrepresentation by the …
The Board of Certified Real Estate Appraisers now require real estate appraisal management companies to register and post a $50,000 bond. This new bond agreement guarantees that they will follow all applicable laws and regulations in the state in which they place appraisers in. This surety bond protects the state and the public by guaranteeing that appraisal management companies will …
The California Secretary of State demands that all who wish to be immigration consultants must submit a surety bond amounting to $100,000 upon applying for a license.
What are the requirements in order to be an immigration consultant in the state of California?
An immigration consultant, according to the Secretary of State, cannot offer legal advice to people’s immigration …
For those who are thinking about starting up a business, many legal to-do’s must be checked off before assisting clients. If someone wants to open a barber shop, there are some steps that need to be taken first such as getting bonded.
Similar to all other surety bonds, each state has its own bonding requirements, although the three parties of the bond …
Lost a cashier’s check? Don’t panic. The solution may not be as straightforward as issuing a stop-payment but there are simple actions you can take to ensure the money gets where it needs to go without facing a major loss.
First, contact the issuing bank to inform them of the situation.
You will be asked to make a …
Any company in California that does business as an immigration consultant must file a surety bond before consulting clients. This bond must be obtained in order to file for and to receive a license. A bond must be posted as a part of the licensing process.
This surety bond protects the client that is financially and/or legally affected from …
Businesses that engage in operating parking lots are required to get a parking lot tax bond. The bond ensures that loss from theft, damage, and taking of a vehicle that is in custody of the parking lot owner/operator will be repaid to the customer. Each city and county within a state requires a particular form of a parking lot tax …
Employees Benefit from this Bond
Car washes need to be bonded with a car wash bond in order to comply with state, city, or county laws and regulations. Employees benefit from this bond since it protects employees from their employers taking advantage of them financially and legally. With this bond, employees are guaranteed full earned wages, fringe benefits, gratuities, and interest. …
Unions require this bond in order for them to be able to negotiate collective bargaining agreements with companies. If a union member does not abide by the obligations stated in the bond, the bond amount can be used to repay claims for wages, salaries, fringe benefits and compensation for services. Union dues and benefits are guaranteed to be paid by …
A contractor provides a advance payment contract bond which guarantees that the contractor will repay or settle the cash paid in advance by the owner of the contract. For instance a manufacturer enters into a contract to provide specialized machinery. The Party purchasing the specialized machinery may be required to pay 50% of the value of the contract up front …
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