As per Florida General Statutes, auto dealers must provide a license surety bond or bond renewal on or before the 30th of April. The bond must run concurrently with the license and be presented on state form HSMV 86020. The obligation guarantees that the dealer will comply with the conditions of any agreement made by such dealer in connection with the sale or exchange of any motor vehicle, and shall not violate any of the provisions of Chapter 319 and 320, Florida Statutes, in the conduct of the business. The Florida auto dealer bond also guarantees that the licensee will pay to any person in a retail or wholesale transaction, any loss or damages which such person sustains as a result of any failure to comply with the conditions of any written contract made by the dealer in connection with the sale or exchange of any motor vehicle. The surety bond must be executed by a surety company licensed to do business in the State of Florida and delivered to the licensing division:
Florida Department of Highway Safety
Attn: Motor vehicle dealer surety bonds
2900 Apalachee Parkway, Room A312, Mailstop #65
Tallahassee, FL 32399-0500
The bond is cancelable by surety upon thirty days prior notice however this is a term obligations with a separate bond penalty applying to each license year. Because the the obligation is subject to "stacking" of liability each year and the recent treatment of bond claims by the division, we accomplish a credit review of ALL applicants.
Florida surety bond leader, Surety One, Inc. is available for same-day servicing of your new or renewal dealer bond request. Our special programs allow us to offer you bonding regardless of credit and financial condition. Do you operate in multiple states? No problem! We offer motor vehicle dealer bonds in all states. (Click here for our MVD bond guide.) We also offer certificate of title bonds and lien release bonds needed in the course of your dealership operations.