Why do I need an Indiana Vehicle Merchandising Surety Bond?
Individuals operating as a Vehicle Merchandiser are required by the state of Indiana’s Secretary of State to post a $25,000 surety bond to cover payment of fines, penalties, costs and fees assessed by the Secretary.
What are the different license types for Vehicle Merchandising, and how are they defined?
- Automobile Auctioneer
- If arranging, managing, sponsoring, advertising, hosting, carrying out or otherwise facilitating the auction of more than 3 motor vehicles or watercraft within a 12 month period
- Dealer
- If you sell, offer to sell or advertise for sale at least twelve (12) vehicles in a 12 month period. This includes off-road vehicles, snowmobiles and mini-trucks.
- Distributor
- If you are engaged in the business of selling motor vehicles to dealers located in Indiana. This includes a distributor’s branch office.
- Manufacturer
- If you are a person who is engaged in the business of manufacturing or assembling new motor vehicles or major component parts of motor vehicles, or both, and sell new motor vehicles to dealers, wholesale dealers, distributors or the general public
- Wholesale Dealer
- If you sell, offer to sell or advertise for sale at least one hundred and twenty (120) vehicles in a 12 month period
- Watercraft Dealer
- At least 6 watercraft or trailers in a 12 month period
- Converter Manufacturer
- If you add to, subtract from or modify a previously assembled or manufactured motor vehicle. Examples of converter manufacturers include:
- Adapting vehicles for use by those with physical disabilities
- Modifying vehicles to create rescue vehicles
- Adding custom features and/or amenities to already manufactured vehicles
- Automotive Salvage Recycler
- Sell a used major component part of a motor vehicle
- Wreck, dismantle, shred, compact, crush or otherwise destroy a motor vehicle so you can sell the major component parts or scrap material
- Rebuild a wrecked or dismantled motor vehicle for resale
- Possess for more than thirty (30) days more than two (2) inoperable motor vehicles
- Engage in the business of storing, disposing, salvaging or recycling of motor vehicles, vehicle hulks or parts of motor vehicles
- Transfer Dealer
- Transfer ownership of at least 12 motor vehicles during 12 month period
- Auto Mobility Dealer
- Engage in the business of selling, offering to sell or soliciting/ advertising the sale of adapted vehicles or watercraft
- Possess adapted vehicles or watercraft exclusively for the purpose of resale
- Engages in the business of:
- Selling, installing or servicing;
- Offering to sell, install or service; or
- Soliciting or advertising the sale, installation or servicing of;
- Equipment or modifications specifically designed to facilitate use or operation of a vehicle or watercraft by an individual who is disabled
- If you add to, subtract from or modify a previously assembled or manufactured motor vehicle. Examples of converter manufacturers include:
Have there been any changes to the Indiana Vehicle Merchandising Surety Bond Form?
As of September 1, 2014, the Secretary of State will no longer accept bonds issued on forms other than State Form 53966 (R4/5-14). Pacific Surety will ensure your bond is issued on the most up-to-date form.
What will my Indiana Vehicle Merchandising Surety Bond cost?
Pacific Surety offers industry low rates and can obtain approvals for almost all credit situations, with rates as low as $100 annually for well qualified applicants. 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.