Missouri — USED Motor Vehicle Or Boat Dealer's License Bond
Missouri used motor vehicle and boat dealers should identify the licensed business and vehicle classes when arranging the $50,000 bond. Use Purchase Now to start this dealer-license bond application with Propeller.
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- Recorded state
- Missouri
- Bond type
- Motor Vehicle Dealer Bond
- Category
- Vehicles, titles & transportation
What this bond does
Indemnity for loss sustained by reason of the acts of the bonded party that constitute grounds for the suspension or revocation of the dealer's license, and to provide payment to buyers or lienholders for failed title delivery.
- Who needs it
- A Missouri used motor vehicle or boat dealer applying in the licensed business's name.
- Who it protects
- Aggrieved parties, specifically including buyers or lienholders affected by a dealer's failure to assign and deliver title within thirty days.
Your bond option
This is the option on record for this bond.
- Bond optionPurchase Now (opens in a new tab)Continue to our secure checkout partner, Propeller (opens in a new tab).
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.
Sources
Have these ready
- Identify whether the application concerns used motor vehicles, boats or both, and retain the corresponding dealer application.
- Have the legal applicant name, requesting party and any required form available for the provider application.
- Compare the requested sum and effective dates with the actual option and issued document.
Questions about this bond
How much is the required bond?
The bond must be in the penal sum of fifty thousand dollars.
When can a buyer claim against the bond?
Buyers can claim if a dealer fails to assign and deliver a vehicle title within thirty days of the contract or if there is a final court judgment against the dealer.
Who is the bond for?
The bond is executed in the name of the state of Missouri for the benefit of all aggrieved parties.