In order to operate legally in the state of Florida, auto dealers need to renew their license and dealer bond by April 30th.
Past News ReleasesRSS
Doylestown, PA (PRWEB) April 21, 2014
Auto dealers in the State of Florida have to renew their dealership license by April 30th in order to meet the requirements of the state and continue their operations legally. This also means they need to renew their auto dealer license bond since it expires on that same date. That's why many Florida dealerships are now on the look for the best bonding rates, as paying more for their license bond can affect their business negatively.
The April 30th deadline applies to the following dealership types in Florida: independent, franchise, wholesale and auction dealers. For mobile home dealership, the renewal deadline is September 30th. All the details about the Florida dealer license renewal process and the lowest bond rates can be found below.
The Basics of Renewal
Auto dealership businesses in Florida need to be fully licensed by the Florida Department of Highway Safety and Motor Vehicles to operate legally in the state. An up-to-date $25,000 surety bond is an indispensable requirement to obtain a license initially and to have it renewed every year. The bond price that needs to be paid is only a percentage of the $25,000 bond amount.
For a renewal of a Florida dealer license, there is a fee of $75. Proof for at least eight hours of continuing education and renewal of the motor vehicle dealer surety bond are also necessary. For the latter requirement, a filled Motor Vehicle Dealer Surety Bond Form (HSMV 86020) has to be presented to the Florida DHSMV. The bond form is filled by the surety providing the bond.
The surety bond is not insurance for the auto dealership. It acts as a protection for its customers that the dealership will abide by the state regulations in its business operations. The surety bond is an agreement between three parties. The auto dealership is the principal that gets the bond from the surety in order to guarantee that it will meet the requirements of the obligee, in this case the State of Florida.
Bryant Surety Bonds Offers Help with Finding the Best Bond Rates
Bryant Surety Bonds provides very competitive bond rates for the Florida dealer license renewal. The company writes a huge volume of bonds, which allows them to have security in numbers and to offer the best rates on the market. Obtaining a bond with even less-than-perfect credit is possible through their bad credit program as well. This means that dealerships can make considerable savings and don't need to worry about their credit score impeding their bonding and licensing renewal process.
Bryant Surety Bonds offers the possibility to get a quote online instantly too. This saves auto dealers time and money that they would otherwise spend applying and waiting for bond quotes. Auto dealerships that are in the process of getting a license renewal can apply online to get the best rate quote.
About Bryant Surety Bonds, Inc.
Bryant Surety Bonds, Inc. has been offering A-Rated, T-listed surety bonds in all 50 states since 2007. Through solid relationships with over 20 bonding companies, Bryant Surety Bonds, Inc. has the contacts, expertise, and top service, needed to provide a hassle free bonding experience, all while offering competitive rates. It is because of these relationships that Bryant Surety Bonds, Inc. can offer several specialty programs such as a bad credit program, as well as instant online approvals for the exclusive markets. As always, it is free to apply and there are no obligations.
Bryant Surety Bonds
73 Old Dublin Pike
Suite 10 #306
Doylestown, PA 18901
Phone: (866) 450-3412
Fax: (866) 450-3414