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Maine Motor Vehicle Dealer Bond

Who needs a Maine Motor Vehicle Dealer Bond?

All licensed motor vehicle dealers are required to maintain a Maine Motor Vehicle Dealer Bond by the Secretary of State, State of Maine. The bond is required as part of your dealer license application.

Why is the Maine Motor Vehicle Dealer Bond required?

The Maine Motor Vehicle Dealer Bond helps ensure that dealers conduct business ethically and lawfully.

How do I know this is the required bond for my business?

You may have heard this bond referred to as a Maine DMV Bond, Dealer Bond, Dealer License Bond, Car Dealer Bond or Auto Dealer Bond. While people use many names, they refer to the same bond. If you are a motor vehicle dealer in the state of Maine, this bond is required to obtain your license. If you need a surety bond to get your dealer license, you can get there from here!

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.