How Used Car Dealer Bonds will Change in 2017

How used car dealer bonds will change in 2017

If you’re a used car dealer in New York State your surety bonding requirements are about to change! Thanks to the New York Assembly Bill 8166 the state is about to bring in key changes that used car dealers need to be aware of. Although the bill passed in 2016, its influence will only begin on March 28, 2017, when the bill comes into effect.

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How Motor Vehicle Dealer Bonds Work

How Motor Vehicle Dealer Bonds Work

Auto dealers are a big part of the transportation industry and our society at large, providing the bridge between auto manufacturers and consumers. This crucial part of our economy and culture carries with it a large responsibility, so auto dealers must adhere to local laws and regulations and follow ethical business practices. Motor vehicle dealer surety bonds provide assurances that dealers will behave legally and ethically.

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History of the Surety Bond [Infographic]

History of the Surety BondViking Bond Infographic (1)

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Viking Bond – Contractors Bond Guide: A Surety Bond Guide for The Construction Industry

Overview:

In many states, from the day contractors receive their licenses, they have to be bonded. They must also secure surety bonds for many projects they take on.

 A Surety Bond Guide for The Construction Industry

This guide will serve as an introduction to what kinds of surety bonds you will need as a contractor, when you will need them, how much they will cost, why you need them, and how to get them.

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Everything You Need to Know About License Bonds

Viking Bonds Everything You Need To Know About License Bonds

What Are License Bonds?

License Bonds are commercial surety bonds that government agencies require business owners to obtain before the business owners can be legally licensed in certain industries, such as insurance brokering, mortgage lending, and construction.

 

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How Bid, Payment and Performance Bonds Work Together

In order to bid for and then perform a construction project, you will likely need three bonds: a bid bond, a performance bond, and a payment bond. These three contract bonds work hand in hand to provide security for several parties involved in construction contracts.

 

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