The Commonwealth of Kentucky Motor Vehicle Commission (MVC) is responsible for regulating and licensing motor vehicle dealers in Kentucky. As part of their licensing requirements, motor vehicle dealers must submit a surety bond to the MVC. Bond amounts vary and are usually determined by the annual volume of vehicles sold, although they cannot be in an amount less than $15,000. Please verify the required bond amount with the state prior to bonding.
This surety bond protects against financial losses due to the principal’s (motor vehicle dealer) unethical or unlawful actions, and ensures that the principal adheres to all ordinances, rules and regulations of the Kentucky Revised Statutes, Chapter 190.
Pacific Surety offers industry low rates and can obtain approvals for almost all credit situations. Once our simple application has been completed, we can have pricing to you within hours. If you have any specific questions, please contact our knowledgeable underwriting staff.