Ready to start a car dealership in South Carolina? Before you can open up your dealership doors, you will need to get licensed and bonded. Here are the steps you need to take to get your South Carolina dealer license:
Not sure if you need a dealer license? Check out this post on selling cars without a license.
Short on time? Read our Motor Vehicle Dealer License FAQ
If you are a new freight broker or freight carrier, you will need to file either a trust fund agreement (BMC-85) or an ICC Freight Broker Bond (BMC-84).
The Federal Motor Carrier Safety Administration (FMCSA) has set the bond amount at $75,000.
Previously, freight brokers could file a $10,000 bond, but with the new transportation law, Moving Ahead for Progress in the 21st Century (MAP-21), the bond amount is now $75,000.
If you are a new freight broker or freight carrier, you might have been told you need to file a trust fund agreement (BMC-85). But did you know you could file an ICC Freight Broker Bond (BMC-84) instead and save money?
Trust funds (BMC-85) tie up your money and require 100% collateral. The surety bond (BMC-84) only requires an annual premium. Some of our customers have been bonded for as low as $938!
To get a free quote, complete our online ICC Freight Broker Bond application.
The below questions are specifically related to applying, filing, and renewing a court bond. If you are unsure what a court bond is, please read our post “What is a Court Bond and How to get One” post, or check out our Court Bond Guide.
Before you can start selling cars in South Dakota, you’ll need to get your South Dakota Motor Vehicle Dealer license.
Note that any individual is allowed to sell up to five vehicles/boats in a 12-month period, as long as those vehicles are titled in their name and used primarily for personal, family, or household use. If you wish to flip cars for a profit, you will need to get a dealer license.
Not sure if you need to get licensed? Check out this post on selling cars without a license.
Florida law states that any person, firm, partnership, or corporation that buys, sells, offers for sale, displays for sale, or deals 1 (one) or more mobile homes in a 12-month period is considered to be a mobile home dealer and must get licensed.
If you fail to get your license and still conduct business, you could be found guilty of a second-degree misdemeanor, punishable by up to six months in jail and/or a fine of $500. You could also be liable for violated Florida’s Deceptive and Unfair Trade Practices Act, which is subject to fines of up to $5,000 per violation, and possibly a permanent injunction issued by a circuit court.
Here are the steps to get your Florida Mobile Home Dealer License.
One of the most common questions relating to surety bonds is ‘how much does a surety bond cost?‘ Unfortunately, there isn’t a magic number.
Surety bond cost is influenced by many factors. Some factors can be controlled, while others cannot. Here are the top influences of surety bond cost and what you can do about them.
Continue reading more about Surety Bond costs
Professional boxing promoters recruit boxers, set up matches, and advertise events. Boxing promoters cover all the expenses, including all the people involved in the boxing match, such as timekeepers, referees, judges, and medical personnel.
Boxing promoters are responsible for every single aspect of a boxing event from start to finish. Long hours are spent laboring over such details, and extensive travel is often involved in the job.
Follow the steps below to find out how to become a boxing promoter.
When you’re getting a surety bond, the surety company will ask you to sign a personal indemnity agreement. What is this indemnity agreement?
When you sign a personal indemnity agreement, you’re agreeing to take responsibility for losses that a surety company incurs on your behalf.
You can learn more about how surety bond indemnity agreements work.
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