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.
All licensed used motor vehicle and used motor vehicle parts dealers are required to maintain a Georgia Used Motor Vehicle Dealer’s Bond by the Georgia Professional Licensing Boards Division. The bond is required as part of your dealer license application. Used parts dealers are required to maintain a $10,000 bond. Used vehicle dealers are required to maintain a $35,000 bond.
The Georgia Used Motor Vehicle Dealer License Bond helps ensure that dealers conduct business ethically and lawfully.
You may have heard this bond referred to as a Georgia Used Car Dealer Bond or Used Auto Dealer Surety Bond. While people use many names, they refer to the same bond. If you are a used motor vehicle dealer or a used motor vehicle parts dealer in the state of Georgia, this bond is required to obtain and maintain your license. In our online purchase process, we will direct you to enter information about your business that ensures you obtain the correct bond in the correct amount.