Motor Vehicle Dealer'S Bond Form - Suretec Insurance Company

Download a blank fillable Motor Vehicle Dealer'S Bond Form - Suretec Insurance Company in PDF format just by clicking the "DOWNLOAD PDF" button.

Open the file in any PDF-viewing software. Adobe Reader or any alternative for Windows or MacOS are required to access and complete fillable content.

Complete Motor Vehicle Dealer'S Bond Form - Suretec Insurance Company with your personal data - all interactive fields are highlighted in places where you should type, access drop-down lists or select multiple-choice options.

Some fillable PDF-files have the option of saving the completed form that contains your own data for later use or sending it out straight away.

SURETEC INSURANCE COMPANY

MOTOR VEHICLE DEALER’S SURETY BOND

Bond No. _____________

KNOW ALL MEN BY THESE PRESENTS, THAT,

Name______ _ _ _ ____________________________________________________________________________________,

Address(es)____________________________________________________________________________________________

City, State, and Zip____________________________________________________________________________________

as Principal, whose place of business and any supplemental location(s) operated under the same general distinguishing number

is/are located at the address(es) set forth above and SURETEC INSURANCE COMPANY, 952 Echo Lane, Suite 450,

Houston, Texas 77024, as Surety, duly authorized and qualified to do business as a surety company in this State, are held

and firmly bound to such persons who shall conduct business with said Principal in its capacity as a motor vehicle dealer in the

penal sum of TWENTY FIVE THOUSAND DOLLARS ($25,000.00), for the payment of which sum, well and truly to be

made, we hereby jointly and severally bind ourselves, our heirs, administrators, executors, successors and assigns.

WHEREAS, the above-named Principal is applying for a license as a motor vehicle dealer,

AND WHEREAS, said Principal is required by law (Tex. Transp. Code sec. 503.033) to submit a properly executed surety

bond, conditioned as set forth below, with said application for license,

AND WHEREAS, the bond shall run concurrently with the period of the license issued to the Principal.

THE CONDITION OF THE OBLIGATION is such that if, during the effective period of this obligation, the Principal shall pay

all valid bank drafts, including checks, drawn by the Principal for the purchase of motor vehicles and transfer good title to each

motor vehicle that the Principal purports to sell, then this obligation shall be void; otherwise to remain in full force and effect

IT IS FURTHER UNDERSTOOD AND AGREED that the above obligation shall extend, without notification to the Surety, to

any change of officers of the Principal if the Principal is a corporation, to any additional locations or changes of address of the

Principal or to any substitution of business name of the Principal wherein ownership is not changed.

IT IS FURTHER UNDERSTOOD AND AGREED that this bond shall be open to successive claims up to the face value of the

bond. The Surety shall not be liable for successive claims in excess of the bond amount, regardless of the number of claims

made against the bond. Recovery against the bond may be made by a person who obtains a judgment against a dealer assessing

damages and attorney’s fees for an act or omission on which the bond is conditioned if the act or omission occurred during the

term for which the general distinguishing number will be valid. Payment of any judgment by the Surety shall be immediately

reported to the Texas Department of Transportation, Motor Vehicle Division, P.O. Box 2293, Austin, TX 78768.

IN WITNESS WHEREOF said Principal and Surety have executed this bond to be effective on the ______________ day of

2007

2006

_______________________, _________ and to expire on the _____________ day of ___________________, _________.

2006

DATED this ___________________ day of _________________________, _________.

_______________________________________

Principal

By: ___________________________________

2006

DATED this ___________________ day of _________________________, _________.

SURETEC INSURANCE COMPANY

By: ___________________________________

Attorney in Fact

In accordance with Tex. Transp. Code sec 503.033, this form is prescribed but not furnished by the Texas Department of Transportation as approved by the

Attorney General of Texas on July 16, 1985.

Rev. Date 1/1/04