Form Ta-Vd-114 - Motor Vehicle Dealer Bond
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1
2Motor Vehicle Dealer Bond
120 State Street
DEPARTMENT OF MOTOR VEHICLES
Montpelier, Vermont 05603-0001
Agency of Transportation
802.828.2038
Toll Free: 888-99-VERMONT
dmv.vermont.gov
TTD: 711
The bond, letter of credit or certificate of deposit shall remain in effect for the pending registration year and one
year thereafter.
KNOW ALL PERSONS BY THESE PRESENT, that we ____________________________ as Principal, and
________________________________________________________________ a corporation organized and existing
under the laws of the State of _________________________________ having its principal place of business at
______________________________________________ being authorized to do business in the State of Vermont, as
Surety, are held and firmly bound unto the State of Vermont, in the penal sum of $________________ for payment of
which, well and truly to be made, we bind ourselves, our heirs, executors, administrators, successors and assigns, jointly
and severally, firmly by these presents.
THE CONDITION of the above obligation is such that WHEREAS the principal has applied for the issuance of a
Motor Vehicle Dealer’s registration and presents this bond in accordance with the statute.
NOW THEREFORE, if the aforesaid Principal shall faithfully comply with the provisions of the State of Vermont
statutes applicable to new motor vehicle dealers and used motor vehicle dealers and shall indemnify the State of Vermont
or any person dealing or transacting business with the principal for any loss sustained by the State of Vermont or by any
person by reason of the failure of the Principal to remit, to the Commissioner of Motor Vehicles, fees collected pursuant
to 23 V.S.A. Chapters 7 and 21 or 32 V.S.A. Chapter 219, then this obligation to be void, otherwise, to remain in full
force and effect.
The aggregate liability of the Surety of all persons shall, in no event, exceed the amount of this bond during any one
registration period.
This bond covers any breach of the above-stated obligations occurring during the bonding period, prior to the effective
date of cancellation or termination of the bond. Any claim under this bond must be made to the Surety within one year
after the Principal ceases, for any reason, to be licensed or one year after the effective date of cancellation or termination
of this bond, whichever comes first.
The bond shall be effective __________________________ and shall expire __________________________.
Dated this ______________ day of _____________________, 20_____, at____________________________
County of _________________________________ and state of ____________________________________
____________________________________
PRINCIPAL
_____________________________________________ BY: _____________________________________
WITNESS
Dated this ______________ day of _____________________, 20_____, at___________________________
County of _________________________________ and state of ____________________________________
____________________________________
SURETY
_____________________________________________
BY: ____________________________________
WITNESS
Vermont Telecommunications Relay Service Dial 711
TA-VD-114 04/2016 REB
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Parent category: Legal