As a guarantee for state permit fees an Illinois oversize permit bond is an inexpensive and effective way to secure a bonded charge account. An applicant may establish such ‘Bonded Charge Account’ with the Permit Office in lieu of paying for each permit before it is issued. In order to initiate the process the DOT requires that application form OPER 1932 be completed in duplicate and submitted to the Permit Office. The applicant must also provide Illinois oversize permit bond Form OPER 1931 accompanied by the appropriate surety power of attorney. The bonding agent must execute the surety bond in a minimum amount of $1000 or in increments of $1000 up to an amount equal to at least twice the applicant’s anticipated monthly permit fees. The Permit Office is obligated to provide billing statements every thirty days, providing there has been activity against in the account. The invoice shows charges, payments, adjustments and the amount due. Payment in full is due within two weeks following the ivoice date. Any bills not paid within thirty days from the date of the statement will result in the withholding of permits to the account holder until the delinquent amount is paid. The Permit Office can at any point proceed against the Illinois overweight bond to collect any unpaid balance. Reinstatement of credit and issuance of permits will be withheld until payment in full is received and a new surety bond is provided. The obligation states that it guarantees “that if the Principal shall promptly pay unto the Department of Transportation of the State of Illinois all special permit fees and charges due by the Principal as required by law, rules and regulations adopted in connection therewith for the movement of vehicles of excess weight or dimension over the highways of the State. The Illinois oversize permit bond may be canceled by the surety by giving thirty (30) days notice in writing to the Department of Transportation. The surety bond is deemed canceled at the expiration of thirty (30) days from date of receipt of notice, the said surety remaining liable for all fees and charges covered by the original surety bond which may have accrued up to date of the cancellation. The bond is called a “Bond for Payment of Special Permit Fees and Charges to Illinois Department of Transportation for Movement of Vehicles of Excess Dimensions or Weight Over Illinois Highways“, which you can view by clicking here.
National surety leader, Surety One, Inc. underwrites fuel tax surety bonds, overweight/oversize and super load permit bonds for all classes of ground transport operation. No surety bonding company is more responsive to your bonding needs! We welcome applications from domestic and foreign operations. Visit us at SuretyOne.com, call (787) 333-0222 or (800) 373-2804, or email Underwriting@SuretyOne.com for an Illinois oversize permit bond application or information regarding surety bond capacity for any need.
