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South Carolina bonds

South Carolina — Motor Vehicle Dealer & Wholesaler Bond

South Carolina's dealer and wholesaler bond protects against covered losses from fraud in vehicle sales or transfers. Have the licensed business details ready and begin the application with RLI.

Also known as South Carolina Motor Vehicle Dealer & Wholesaler Bonds

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

What this bond does

Licensing requirement for protection against fraud or fraudulent representation.

Who needs it
South Carolina Motor Vehicle Dealer/Wholesaler
Who it protects
Security or protection against loss or damage due to fraud or fraudulent representation in relation to a sale or transfer of a motor vehicle.

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.

Submission Requirement

Original surety bonds must be submitted with the dealer license application.

Bond Purpose

The bond provides specific protection to consumers regarding vehicle sales and transfers.

Sources

Have these ready

  1. Match the dealer or wholesaler name and address to the license application.
  2. Have the required bond form, amount and effective dates ready for RLI.
  3. After issuance, have the owner, partner or corporate officer sign and submit the original bond and power of attorney with the license application.

Questions about this bond

Do I need to submit an original bond for my South Carolina license?

Yes, you must submit your original surety bond and Power of Attorney with your application.

What does the South Carolina dealer bond protect against?

It protects against loss or damage due to fraud or fraudulent representation in a vehicle sale or transfer.

Who must sign the surety bond?

The owner, partner, or corporate officer of the dealership must sign the surety bond.

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