Auto dealers and motorcycle dealers must file a Motor Vehicle Dealer’s/Buyer’s Agent Surety Bond with the Alaska Division of Motor Vehicles as part of their licensing requirements. With Jet, your bond is ready in under three minutes!
Get started by clicking the button below or calling us at 855-296-2663.
Jet’s direct distribution model means you get access to monthly payment options, low annual and multi-year rates, and in-house claims handling.
The $100,000 dealer license bond has a starting rate of $50 a month or $500 for one year. Motorcycle dealers can purchase their bond for as low as $13 a month or $125 annually.
|Bond Type||Bond Limit||Monthly||1 Year|
|Motor Vehicle Dealer||$100,000||$50||$500|
Dealer bonds can be purchased in multi-year terms as well, if you know you’ll be in it for the long-haul and want to get a discounted rate. Monthly payments are a convenient alternative, as your bond remains active as long as payments are made and until cancellation is sought.
Buyer’s Agent is defined as someone who does business with a vehicle dealer on behalf of a vehicle purchaser.
The primary intent of the Motor Vehicle Dealer’s/Buyer’s Agent Surety Bond is to provide compensation in cases of dealer misconduct that leads to financial loss. The Division of Motor Vehicles is tasked with enforcing dealers to hold the surety bond along with ensuring dealers are in compliance with the regulations laid out in Alaska Statutes, Title 8, Chapter 66.
At Jet, we guarantee that funds are available when a claim is filed on a surety bond. Should a payout be made to the claimant (generally a member of the public or the Division), the motorcycle or vehicle dealer is responsible for paying the claim amount back to Jet to restore their bond to it’s full limit.
It’s important to note that the bond is only utilized in cases where the dealer is negligent or fraudulent and either fails or refuses to address the issue; this makes surety bonds different from liability insurance which covers the holder and doesn’t need to be paid back.
Reasons the bond would pay out include:
The first step to getting your Motor Vehicle Dealer Bond is filling out the application. Your company name on the bond form must read exactly as it does on the license application form, including your entity name and DBA name.
Once all necessary information is input, a quote will be shown on the screen. From there, you can select your preferred payment method and put in your credit card information. The bond form and receipt will be available to download for your records.
Jet makes sure your bond form is done appropriately according to the Alaska Division of Motor Vehicles standards. This means you will receive the original signed bond form with a notary seal included.
All bonds must be submitted to the Division at the following address:
Alaska Division of Motor Vehicles, ATTN: Vehicle Services
3901 Old Seward Hwy, Ste 101
Anchorage, AK 99503