In this installment of surety bonds we will continue to look at major points of the claim process in auto dealer surety bonds. Eligibility Only certain consumers are eligible to process a claim against the auto dealerships surety bond. – Consumer Purchaser: Most of the claims that a consumer will make are related to the…
Read more November 30, 2015To avoid confusion we will discuss some of the major points of the claim process in auto dealer surety bonds. Surety bonds are not the same as an insurance policy. A surety bond protects the consumer not the business. The surety bond is an agreement that outlines an obligation of one of the parties, in…
Read more November 19, 2015The defense authorization also expands SBA-backed surety bonds Tucked into the defense authorization passed by Congress Monday are little-noticed amendments that should eliminate much of the fraud that has characterized individual surety bonds and expand the Small Business Administration’s flexibility in backing bonds for small contractors. The surety measure tightens up the rules for using…
Read more November 12, 2015A group of carwash owners have filed a lawsuit against New York City charging a new law illegally favors unionized carwashes. The Association of Car Wash Owners lawsuit centers on rules that require owners of nonunionized carwashes to post $150,000 surety bond before obtaining a license. Unionized operations pay only $30,000. The association says the…
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