Louisiana Motor Vehicle Dealer, Dismantler/Recycler, Public License Tag Agent and Inspection Bonds
How Much Does a Motor Vehicle Dealer Bond Cost in Louisiana?
$50,000 Bond
Expires 12/31
$5,000 Bond
$20,000 Bond
$20,000 Bond
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What Does a Motor Vehicle Dealer Bond Protect Against?
The surety bond ensures lawful business practices and compliance with applicable rules and regulations set out in Chapters 4 and 6 of Title 32 of the Louisiana Revised Statutes of 1950. Among other requirements, the bonded principal must comply with contracts and laws related to the sale, repair or exchange of vehicles. The dealer or facility must also adhere to licensing, tax, title and registration guidelines.
In a situation where the bonded customer (principal) fails to comply with surety bonding terms and requirements, the surety company is financially obligated to cover damages up to the bond amount or penal sum of the surety bond. As with all surety bonds, the principal agrees to indemnify the surety for any such losses paid to third parties.
Other Helpful Information and Links
Applicants should confirm required surety bond expiration date with the state prior to requesting a quote. Typically, bonds in Districts 1, 2 and 3 expire on December 31st of even years and bonds in Districts 4 and 5 expire on December 31st of odd years.