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Nebraska bonds

Nebraska — Motor Vehicle/Trailer/Wholesaler/Motorcycle Dealer Bond

Nebraska's $50,000 dealer bond form covers motor vehicle, trailer, wholesale and motorcycle dealer classes. Identify your licensed business and class, then begin the RLI application through The Southern Agency.

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Recorded state
Nebraska
Bond type
Motor Vehicle Dealer Bond
Category
Vehicles, titles & transportation

What this bond does

Provides financial protection for losses resulting from dealer misconduct or failure to deliver clear title as required by the Nebraska Motor Vehicle Industry Licensing Act.

Who needs it
Nebraska Motor Vehicle/Trailer/Wholesaler/Motorcycle Dealer
Who it protects
The bond protects interested persons against losses caused by dealer fraud, misappropriation of funds, deceptive practices, or failure to deliver clear and marketable title.

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 Penalty

The total aggregate penalty amount for the surety bond is $50,000.

Claim Process

Any person who suffers a loss covered by the bond may file an action in their own name to recover damages, including reasonable attorney fees.

Cancellation

The surety may cancel the bond by providing sixty days' written notice to the Principal and the Nebraska Motor Vehicle Industry Licensing Board.

Sources

Have these ready

  1. Use the exact licensee name and dealer class, and retain the form’s execution and notice instructions.
  2. Have the legal applicant name, requesting party and any required form available for the provider application.
  3. Compare the requested sum and effective dates with the actual option and issued document.

Questions about this bond

Which business classes are named in the form?

The cited Nebraska form names motor vehicle, trailer, wholesale and motorcycle dealers. Match the actual class in your license application.

What losses does the bond address?

Its conditions include covered dealer fraud, misappropriation, deceptive practices and failures to deliver clear and marketable title.

Where do I start the application?

Purchase Now opens RLI in a new tab. Apply there, then check the issued bond and submit it through the Nebraska Motor Vehicle Industry Licensing Board's process.

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