Virginia Passenger Carrier and Broker Bonds
Virginia Passenger Carrier and Broker Bond Information
Passenger Carrier and Broker Surety Bonds are surety bonds required by those applying for certificates of authority with the Virginia Department of Motor Vehicles (Forms OA 141, OA 150, or OA 151) as Contract Passenger Carriers. A Contract Passenger Carrier in Virginia is defined as a person who contracts to transport groups of passengers and who charges a group fee. The surety bond is required of authorized passenger transport groups in order to ensure compliance with state mandated rules and regulations. Generally, the surety bond is needed for the following authorities; Transportation of Passengers Broker, Transportation of Property Broker, and Household Goods Carriers.
How Much Does a Passenger Carrier and Broker Bond Cost in Virginia?
What does a Passenger Carrier and Broker Bond Protect Against?
The Passenger Carrier and Broker Bond ensures that the bonded principal observes and complies with the requirements of law, and shall save and holds harmless any person from fraud or fraudulent representation or from any loss or damage resulting from a breach of any contract or from any loss or damage suffered by reason of the violation of the provisions of Chapter 20, Title 46.2 of the Code of Virginia. The surety bond indemnifies the Commonwealth of Virginia or anyone aggrieved by fraud, fraudulent representation, or loss or damage resulting from breach of contract or violation of the Code of Virginia.
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Virginia DMV Passenger Carrier Operating Requirements
- Trips must be prearranged under a contract made with a group through a representative of the group.
- The contract cannot be for less than a one-hour time period and no other group may be transported during the time frame.
- The trip sheet, contract order, or wireless text dispatching device must be kept in the vehicle during the trip and must include name of the group being transported, origin and destination of the trip, and date and approximate pick up time.
- The trip sheets, contract orders, or documentation produced by the wireless text dispatching devices must be kept at the place of business for three years and made available to the DMV, law enforcement or airport authority upon request.
- Passenger carrier must adhere to DMV rules pertaining to vehicle proximities at airports, hotels, and taxicab taxicab stands
- Certificate number must appear in all advertisements for this service.
- Advertisements for services must be free of untrue, misleading, or deceptive information.
Surety Bond Requirements
- A $25,000 surety bond (Passenger Carrier and Passenger Broker Bond - Form OA435) or a letter of credit must be on file with DMV's Motor Carrier Services.
- Bodily Injury and Property Damage coverage must be held at coverage limits as required by the DMV
Registration and License Plate Requirements
- For-Hire license plates and Vehicle Registration for hire are required. Operating Authority Registration must be non-apportioned (not IRP registered) vehicles. The operating authority information will be displayed on the vehicle registration card when the for-hire license plates are issued.