CO Motor Vehicle Dealer, Powersports Vehicle Dealer, Wholesaler $50,000 Bond

About

The State of Colorado requires a $50,000 bond of each Motor Vehicle Dealer, Powersports Vehicle Dealer, Used Motor Vehicle Dealer, Used Powersports Vehicle Dealer, Wholesaler, and Wholesale Motor Vehicle Auction-Dealer.

General Questions
What is a surety bond? 
What is a surety bond?

A surety bond is a three-party agreement among a principal, an obligee, and a surety.

The bond formalizes the principal's obligation to the obligee. The surety guarantees that the principal will fulfill their obligation.