Who needs an Automobile Dismantler and Parts Recycler Surety Bond?
Automobile Dismantler and Parts Recycler Surety Bonds are required for individuals and businesses that are involved in the disassembly of automotive vehicles and reclaiming of their various components. With motor vehicles being one of the most recycled consumer products in the United States, entrusting these duties to bonded individuals and businesses that have pledged to do so correctly and responsibly is a responsible decision in today’s world.
What is the purpose of an Automobile Dismantler and Parts Recycler Surety Bond?
These license and permit surety bonds guarantee that the respective dismantler or recycler performs these duties in accordance with all applicable laws and regulations, including those put in place to protect the environment and public health. This ensures that automobiles will be deconstructed in a safe manner, with their accompanying steel and other valued materials being collected for future use, while all dangerous chemicals are disposed of through regulated and hazard-free methods.
These bonds also provide compensation to anyone who has suffered damages due to the misconduct committed by the licensed automotive dismantler or parts recycler. If a harmed party files a claim against the bond and it is found to be valid, the surety company will pay out up to the penal sum of the bond to resolve the claim. Any monies paid out by the surety, including attorney’s fees, must be reimbursed by the principal.
How much are Automobile Dismantler and Parts Recycler Surety Bonds written for?
The penalty amount for this type of bond will vary by state. Pacific Surety proudly offers Automobile Dismantler and Parts Recycler Surety Bond in the following states:
Please contact your local authority for specific information about Automobile Dismantler and Parts Recycler Surety Bond requirements in your state.
How much does an Automobile Dismantler and Parts Recycler Surety Bond cost?
The price paid for Automobile Dismantler and Parts Recycler Surety Bonds will vary. Your application and your premium will be based on the following factors:
- The state requiring the bond
- Amount of the bond
- Term length of the bond
- Personal credit for all applicants
Individuals with good credit can expect to pay 1%-5% of the bond amount. This means qualified applicants could pay as little as $250 annually for a $25,000 bond. To find out how much your Automobile Dismantler and Parts Recycler Surety Bond is going to cost, please complete our online application for your free, no obligation price quote.
Can I get an Automobile Dismantler and Parts Recycler Surety Bond with bad credit?
Pacific Surety offers a wide-range of approvals, regardless of credit, for Motor Vehicle Dealer Surety Bonds. With our strong surety relationships, we have the ability to approve 99% of applicants regardless of how bad their credit is, and our knowledgeable underwriting staff will work with you to ensure you receive the lowest possible pricing for your bond. To see what rate you will qualify for, please complete our online application for your free, no obligation price quote.
Can the premium for an Automobile Dismantler and Parts Recycler Surety Bond be financed?
Yes! Pacific Surety has an industry-leading premium finance program that gives our clients the ability to purchase a bond when the upfront costs might be prohibitive to them. Applicants who choose this option will pay a percentage of their premium as a down payment and the balance of the premium will be paid in 4 monthly installments. Please contact our staff for additional information regarding our finance program.
How do I get an Automobile Dismantler and Parts Recycler Surety Bond?
The first step is to complete our quick online application for your free, no obligation bond quote. Submission takes only five minutes, and our underwriting staff will be in contact with you within a couple of hours with pricing. If you prefer to speak with our knowledgeable staff, please call 1-866-722-7873 and one of our Underwriters will assist you in applying for your bond.
After you receive approval, you must sign an indemnity agreement with the surety and provide payment for your bond premium. In most cases, we can issue bonds the same day we receive your signed documents and payment.