To register as a dealership or buyer’s agent in the State of Alaska, you must first submit a $50,000 surety bond to the Alaska Division of Motor Vehicles (ADMV), per the Alaska Statutes: Title 8, Chapter 66. The registration period is for two years and must be renewed after every two year term. The bond for this license is continuous and will remain in effect until canceled by the surety company or the principal.
The following items are required to register as a dealership or buyer’s agent with the ADMV:
- Application for registration as a dealer of motor vehicles or buyer’s agent
- The signature of the person signing the application must be notarized
- An original, notarized surety bond of $50,000
- Motorcycle dealers are only required to post a bond for $25,000
- Boat dealers are not required to be bonded
- $50 registration fee
Pacific Surety is proud to offer 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.