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MICHIGAN DEPARTMENT OF STATEAR0026 (09/2022)Clear Nonuniform VEHICLE DEALER SURETY BONDPLEASE READ INSTRUCTIONS ON REVERSE SIDE OF THIS SHEET BEFORE EXECUTING BOND KNOW ALL MEN BY THESE PRESENTS,
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How to fill out vehicle dealer surety bond

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How to fill out vehicle dealer surety bond

01
Contact a surety bond provider to determine the required bond amount.
02
Complete the surety bond application form with the necessary information.
03
Submit the application along with any required documentation and payment.
04
Wait for the surety bond to be issued and provide it to the appropriate licensing authority.

Who needs vehicle dealer surety bond?

01
Vehicle dealers who are applying for a license to sell vehicles.
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A vehicle dealer surety bond is a type of bond that provides financial protection to consumers against fraudulent activities or failures of a vehicle dealer.
Vehicle dealers are required to file a vehicle dealer surety bond in order to obtain or maintain their dealer license.
To fill out a vehicle dealer surety bond, the dealer must provide personal and business information, the bond amount required by the state, and purchase the bond from a surety company.
The purpose of a vehicle dealer surety bond is to ensure that the dealer complies with state regulations and protects consumers from financial loss.
The vehicle dealer surety bond must include the dealer's name, business address, bond amount, effective date, and the name of the surety company.
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1949 2022 michigan mcl licensee severally proprietorship hereof hereunder executors indemnification indemnify misrepresentation purchaser surety reimbursement aggregate licensing assigns jointly partnerships salesperson administrators amended herein subst

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