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District of Columbia bonds

District Of Columbia — Motor Vehicle Dealer Bond

District of Columbia motor vehicle dealers use a $25,000 bond protecting the District and people harmed by covered dealer-law violations. Apply in the dealership's name through Propeller.

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Recorded state
District of Columbia
Category
Vehicles, titles & transportation

What this bond does

To indemnify the District of Columbia and aggrieved persons for violations of laws or regulations relating to the motor vehicle dealer business.

Who needs it
Motor Vehicle Dealer
Who it protects
The form identifies the interest as any person aggrieved by the Principal’s violation of law or regulation.

Your bond option

This is the option on record for this bond.

The bond amount describes the limit of the bond obligation, not the price. A listed amount does not establish what the requesting party requires. The premium is what you pay and must be confirmed for the actual option. An E&O limit, where listed, is separate errors and omissions insurance.

Bond Amount

The bond requirement for licensed motor vehicle dealers in the District of Columbia is $25,000.

Bond Obligation

The bond covers violations of laws and regulations governing the motor vehicle dealer business.

Surety Liability

The surety's total liability under the bond cannot exceed the penal sum of the bond.

Sources

Have these ready

  1. Keep the dealer applicant name and business address consistent with the license documents.
  2. Have the District's dealer bond form and requested effective date ready.
  3. After issuance, check the completed bond and include it in the licensing submission as instructed.

Questions about this bond

Who is protected by the bond?

The bond protects the District of Columbia and any person aggrieved by the dealer's violation of relevant laws or regulations.

What amount of coverage is required?

The required bond amount is $25,000.

Does the bond cover dealer employees?

The bond is a general obligation for the dealer as Principal, covering violations in the execution and practice of the motor vehicle dealer business.

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