South Carolina Auto Dealer Bond

South Carolina Auto Dealer Bond

In South Carolina, vehicle dealers and wholesalers must file a $30,000 surety bond with the Department of Motor Vehicles. A surety bond is a form of financial protection for the public if a motor vehicle dealer acts in a reckless or illegal manner.

With Jet, you can get your dealer bond within minutes. Click the button to get started:

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A $15,000 bond is required for wholesale auctions, motorcycle dealers and wholesalers, and travel trailer dealers. 

How Much Does a South Carolina Auto Dealer Bond Cost?

The cost depends on the bond limit, personal credit, and years of experience. With Jet, you can pay a convenient monthly price of $15 for the $30,000 bond, or pay in full for the year at $150.

Bond TypeBond LimitMonthlyAnnual
Motor Vehicle Dealer and Wholesaler$30,000$15$150
Wholesale Auction, Trailer and/or Motorcycle Dealers$15,000$10$100
South Carolina Motor Vehicle Dealer Bond Pricing

In it for the long haul? Jet also offers muti-year options, which are $263 for the $30,000 bond and $175 for the $15,000 bond.

Getting a Dealer License With the South Carolina Department of Motor Vehicles

First time applicants must go complete a thorough process before a bond can be filed, which includes:

  1. Attending a pre-licensing course (not required for wholesale, RV, or motorcycle dealers, and wholesale auctions)
  2. Requesting a (free) pre-inspection of the dealership location
  3. Filing Articles of Authorization
  4. Being approved for a South Carolina Department of Revenue License
  5. Obtaining city/county compliance document
  6. Getting the National Criminal report
  7. Buying a surety bond

After all these steps are complete, the license application, fees, and other documentation must be prepared and sent to the DMV. Renewing the license is much quicker, and steps can be found on the Renewing a Dealer License page.

Additional licensing requirements and details can be found on the Department of Motor Vehicle’s Dealer Licenses page.

What Is the Purpose of Motor Vehicle Dealer Bonds?

Auto Dealer Bonds are required in all 50 states as they offer an effective way to guarantee restitution when a dealer fails or refuses to comply with licensing regulations. The surety bond protects both the state and its people from fraudulent and negligent acts. The South Carolina Department of Motor Vehicles is tasked with enforcement of state laws upon various motor vehicle businesses with the surety bond being just one of the requirements.

Jet (as the surety company) is the guarantor—we will provide claimants a payout up to the bond’s limit for valid claims. Surety bonds differ from the standard general liability policy becauuse they only pay out for damage that can be avoided and fixed. This means the licensee is held accountable and therefore must pay Jet back.

Laws regarding motor vehicle businesses can be found in South Carolina Code of Laws, Title 56.

Getting Your Surety Bond With Jet

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From the click of the button above to checkout, you can expect to spend less than five minutes on the application. You’ll be provided with several payment options, and once you enter your credit card information your bond form will be ready for download, along with your receipt. The bond form must be filed at the following address:

SCDMV
Attn: Dealer License and Audit Unit
PO Box 1498
Blythewood, SC 29019

Read More About Dealer Bond Claims and Bond Handling With Jet

How to Renew My Bond

See the in and outs surrounding renewing with Jet—it’s quick.

How to Cancel My Bond

Looking to cancel? This article has all the details you need.

Bond Claim Process

Read more about claim causes and the claim process for dealers.

South Carolina Motor Vehicle Dealer and Wholesaler Surety Bond Form Example

South Carolina Auto Dealer Bond Form

Notary Bond Application:

X

Business Information:

Indemnity Agreement:

I, the undersigned, hereby apply for a Dishonesty Bond also known as a Business Service Bond or Janitorial Service Bond (“bond”) to the Surety Company (“SURETY”) through Jet Insurance Company (“JET”), with whom I hereby grant the authority to act on my behalf with respect to the bond and assign as my Broker of Record, and declare that the statements herein are true and correct. In consideration of the SURETY issuing, renewing or substituting said bond(s), I, individually and as the owner or officer of the bonded entity, hereby understand and agree, as follows: (i) to reimburse, hold harmless, and indemnify SURETY upon demand for all loss, liability, claim, expense, including but not limited to attorneys’ fees, expert’s fees, investigative fees and claims handling fees, and any other cost which SURETY shall pay or incur in defense, adjustment, or settlement of such claims/suits by reason of such suretyship; (ii) that an itemized statement of loss and expenses by SURETY shall be indisputable proof of my liability to SURETY; (iii) coverage is subject to a $100 deductible; (iv) the employee must be convicted before coverage will apply (v) performance and any form of dispute resolution of this agreement shall take place in the county of SURETY's office of service; and (vi) a facsimile copy or electronically signed version of this agreement shall be binding as if it were an original. This agreement shall survive any changes in, substitute to or renewal of the bond(s).

Required Effect Date of Bond Policy:

Contact Information:

Employee Dishonesty Bond Application:

Business Information:

Business Description:

Coverage Requirements:

Indemnity Agreement:

I, the undersigned, hereby apply for a Dishonesty Bond also known as a Business Service Bond or Janitorial Service Bond (“bond”) to the Surety Company (“SURETY”) through Jet Insurance Company (“JET”), with whom I hereby grant the authority to act on my behalf with respect to the bond and assign as my Broker of Record, and declare that the statements herein are true and correct. In consideration of the SURETY issuing, renewing or substituting said bond(s), I, individually and as the owner or officer of the bonded entity, hereby understand and agree, as follows: (i) to reimburse, hold harmless, and indemnify SURETY upon demand for all loss, liability, claim, expense, including but not limited to attorneys’ fees, expert’s fees, investigative fees and claims handling fees, and any other cost which SURETY shall pay or incur in defense, adjustment, or settlement of such claims/suits by reason of such suretyship; (ii) that an itemized statement of loss and expenses by SURETY shall be indisputable proof of my liability to SURETY; (iii) coverage is subject to a $100 deductible; (iv) the employee must be convicted before coverage will apply (v) performance and any form of dispute resolution of this agreement shall take place in the county of SURETY's office of service; and (vi) a facsimile copy or electronically signed version of this agreement shall be binding as if it were an original. This agreement shall survive any changes in, substitute to or renewal of the bond(s).

Required Effect Date of Bond Policy:

Contact Information:

Contract Bond Application:

X

Business Information:

Owner Information:

Job Details:

Indemnity Agreement:

I, the undersigned, hereby apply for a Dishonesty Bond also known as a Business Service Bond or Janitorial Service Bond (“bond”) to the Surety Company (“SURETY”) through Jet Insurance Company (“JET”), with whom I hereby grant the authority to act on my behalf with respect to the bond and assign as my Broker of Record, and declare that the statements herein are true and correct. In consideration of the SURETY issuing, renewing or substituting said bond(s), I, individually and as the owner or officer of the bonded entity, hereby understand and agree, as follows: (i) to reimburse, hold harmless, and indemnify SURETY upon demand for all loss, liability, claim, expense, including but not limited to attorneys’ fees, expert’s fees, investigative fees and claims handling fees, and any other cost which SURETY shall pay or incur in defense, adjustment, or settlement of such claims/suits by reason of such suretyship; (ii) that an itemized statement of loss and expenses by SURETY shall be indisputable proof of my liability to SURETY; (iii) coverage is subject to a $100 deductible; (iv) the employee must be convicted before coverage will apply (v) performance and any form of dispute resolution of this agreement shall take place in the county of SURETY's office of service; and (vi) a facsimile copy or electronically signed version of this agreement shall be binding as if it were an original. This agreement shall survive any changes in, substitute to or renewal of the bond(s).

Required Effect Date of Bond Policy:

Contact Information:

Worker's Compensation Application:

X

Business Information:

Business Description:

Coverage Requirements

Indemnity Agreement:

I, the undersigned, hereby apply for a Dishonesty Bond also known as a Business Service Bond or Janitorial Service Bond (“bond”) to the Surety Company (“SURETY”) through Jet Insurance Company (“JET”), with whom I hereby grant the authority to act on my behalf with respect to the bond and assign as my Broker of Record, and declare that the statements herein are true and correct. In consideration of the SURETY issuing, renewing or substituting said bond(s), I, individually and as the owner or officer of the bonded entity, hereby understand and agree, as follows: (i) to reimburse, hold harmless, and indemnify SURETY upon demand for all loss, liability, claim, expense, including but not limited to attorneys’ fees, expert’s fees, investigative fees and claims handling fees, and any other cost which SURETY shall pay or incur in defense, adjustment, or settlement of such claims/suits by reason of such suretyship; (ii) that an itemized statement of loss and expenses by SURETY shall be indisputable proof of my liability to SURETY; (iii) coverage is subject to a $100 deductible; (iv) the employee must be convicted before coverage will apply (v) performance and any form of dispute resolution of this agreement shall take place in the county of SURETY's office of service; and (vi) a facsimile copy or electronically signed version of this agreement shall be binding as if it were an original. This agreement shall survive any changes in, substitute to or renewal of the bond(s).

Required Effect Date of Bond Policy:

Contact Information: