PrePass is a toll paying service that lets qualified trucking companies, with fleets of all sizes, pay truck tolls electronically in participating states. This allows operators to improve efficiency, reduce costs and save money. As part of the application process, the participating business must submit a surety bond to PrePass. This surety bond guarantees that the principal (trucking company) will pay all tolls and fees associated with the service and comply with all terms and conditions of the service agreement. If the principal fails to comply with the terms of the bond, the obligee (PrePass) can file a claim. If the claim is validated, the surety will pay out up to the penal sum of the bond. Any monies paid by the surety, including attorney’s fees, must be reimbursed by the principal to the surety.
The bond amount for a PrePass Financial Guarantee Surety Bond varies and depends on, among other things, the estimated toll usage charges to be incurred. This amount is set by PrePass and, at their discretion, can be changed at any time. It is always recommended that you contact PrePass for your specific bond needs prior to bonding.
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.