A new motor vehicle dealer bond is required by the State of Arkansas as a prerequisite to become a licensed new motor vehicle dealer in Arkansas.
A new motor vehicle dealer bond is required by the State of Arkansas as a prerequisite to obtain a new motor vehicle dealer license in Arkansas. The bond guarantees that the licensee will faithfully observe and comply with all applicable state rules and regulations and indemnify any loss sustained by any person as a result of the acts of the licensee when such acts that caused this loss would result in a revocation or suspension of the license.
New motor vehicle dealers and motor vehicle lessors are required by State of Arkansas statutes to obtain a bond in order to obtain an Arkansas new motor vehicle dealer license.
A $50,000 surety bond is required by the State of Arkansas from a surety company authorized to conduct business in Arkansas.
Colonial offers the direct and digital way to obtain an Arkansas new motor vehicle dealer bond. We are the insurance company — which means no agent, no broker, and no middleman. We make it easy to obtain your bond instantly. The steps are simple — get a quote online, fill out your information, and enter your payment method. Print your bond from your home or office. It’s that simple!
An Arkansas new motor vehicle dealer bond is reasonably priced and easy to obtain. You may notice that with other insurance agents and middlemen companies, your premium rate will fluctuate and include additional hidden fees and costs. Colonial offers our lowest possible rate. Premium is based on the amount of the bond required by the applicable government agency.
It is important to understand how surety bonds work, and who is the insurance company issuing your bonds. It is easy to obtain an Arkansas new motor vehicle dealer bond when you deal direct with a quality insurance company licensed to write surety bonds. Colonial is an A (Excellent) rated insurance company by A.M. Best, that has been incorporated since 1930. We are Treasury listed, and licensed and admitted in all U.S. states and territories.