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LT409 (Rev. 9/06) Dealer Number NORTH CAROLINA DIVISION OF MOTOR VEHICLES MOTOR VEHICLE DEALER SURETY BOND Please read instructions on reverse side before executing bond. BOND NUMBER EFFECTIVE DATE
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How to fill out motor vehicle dealer surety

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How to fill out motor vehicle dealer surety:

01
Obtain the motor vehicle dealer surety form from the appropriate agency, such as the state department of motor vehicles.
02
Fill out your personal information, including your name, address, and contact details.
03
Provide details about your motor vehicle dealer business, such as the name of the dealership, its address, and any other relevant information.
04
Indicate the type of surety bond you are applying for, which is typically specified on the form. For example, it could be a bond for a new motor vehicle dealer or a used motor vehicle dealer.
05
Specify the bond amount required by your state or jurisdiction. This amount may vary, so ensure that you have the correct information.
06
Attach any necessary supporting documents, such as a copy of your dealership license or any other required certifications.
07
Review the completed form and double-check that all the information provided is accurate and up-to-date.
08
Sign the form in the designated section, and date it.
09
Submit the completed motor vehicle dealer surety form, along with any required fees, to the appropriate agency.

Who needs motor vehicle dealer surety:

01
Individuals or businesses planning to engage in the sale or lease of motor vehicles often need a motor vehicle dealer surety.
02
This can include both new and used car dealerships, motorcycle dealerships, boat dealerships, and recreational vehicle dealerships.
03
Additionally, auto auction houses and certain vehicle brokers may also require this surety bond.
04
The specific requirements for obtaining a motor vehicle dealer surety bond vary by jurisdiction, so it's important to check with the local department of motor vehicles or the relevant agency to determine if it is necessary for your business.
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Motor vehicle dealer surety is a type of bond that provides financial protection to consumers in case a motor vehicle dealer fails to fulfill their obligations.
Motor vehicle dealers are required to file motor vehicle dealer surety as a way to demonstrate their financial responsibility.
To fill out motor vehicle dealer surety, a dealer must contact a surety bond company and provide information about their business and financial status.
The purpose of motor vehicle dealer surety is to protect consumers from financial loss due to fraud or unethical practices by a motor vehicle dealer.
Information that must be reported on motor vehicle dealer surety includes the dealer's business name, address, license number, and bond amount.
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