The State of Montana requires motor vehicle wholesalers to submit and maintain a surety bond as part of their licensing requirements. The bond is submitted to the Montana Department of Justice, Motor Vehicle Division – Title and Registration Bureau and the amount of the bond varies according to the dealer type.
- Selling only snowmobiles, non-street legal motorcycles or quadricycles (including quadricycle-like vehicles) and boats (including personal watercraft)
- Selling only street legal motorcycles or quadricycles
- New dealer, used dealer, wholesale dealer, auto auction, broker or new manufactured home dealer
The purpose of the Montana Motor Vehicle Wholesaler Surety Bond is to protect individuals from loss due to unethical or unlawful acts by the principal (vehicle dealer) in the course of doing business, and it guarantees that the principal complies with all state regulations and industry standards. This surety bond has an expiration date of December 31st of the current license year and must be renewed annually. A written notice of cancelation from the surety is required to cancel the bond, and the cancellation becomes effective 30 days after the receipt of the notice.
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.