An oversize overweight permit bond is required by several different state, county and municipal entities. State and local trucking permit agencies generally regulate highway/road geometry and conditions, gross and axle weights, the permitted times of day and/or night travel, escorting, curfews, and other considerations necessary to insure safe travel on state roads. A permit is often required to ensure that a trucker uses designated routes on the date(s) and during the hours specified on each permit. The oversize overweight surety bond might ensure that the operator will not cause damage to the pavement, structures, bridges, roadway, drainage structures or other damages and will comply with the permit schedule. The bond and the permit are generally required for those trucking firms that deploy vehicles of "excess weight or dimension", as those categories of motor vehicle are the most likely to cause damage to roadways. While permitting and bonding of excess-load vehicles may be wholly within the discretion of state or local authorities, the most popular are the following:
The state issues single trip, annual permit and superload permits, each with its own specific surety bond requirement. Route surveys and other compliance directives are mandatory. Learn more about applying for this permit at NC DOT Connect.
Required by the Central Permit Office of the Pennsylvania Department of Transportation, the surety bond guarantees that the operator will pay to the Commonwealth all costs and expenses for the restoration of highways and bridges which may be damaged by operations under the special hauling permit, plus costs of collection and attorney's fees.
Denominated "Bond for payment of special permit fees and charges to Louisiana Department of Transportation and Development, for movement of vehicles of excess dimensions or weight over Louisiana and other specified highways", the obligation is self-explanatory. Unlike many other pseudo-performance obligations, this surety bond is cancelable. PERBA (the Permits Electronic Routing Bridge Analysis division) can be accessed here.
This state obligation is required under the provisions of Chapter 623, Transportation Code. The overweight oversize permit bond is fixed at $10,000 for operator applicants. The surety bond ensures the payment of damages that may be sustained to any highway under the jurisdiction of the Texas Transportation Commission by the operators of any equipment under the permit. The state DMV is not the only government instrumentality that requires this type of financial assurance. The following are locality-specific:
Form PERM 14 (7/01) is required of all operator applicants not granted a sovereign waiver. The surety bond amount starts at $10,000 and increases based on Department of Transportation directive. The obligation guarantees that the operator will hold the state harmless from any expense incurred through the failure of the permitee to comply with the terms and conditions of a permit or from any damage resulting from the negligence of the same.
North Dakota and Indiana also require oversize/overweight or permit fee surety bonds similar to these examples.
Surety bond leader, Surety One, Inc. offers excess load and weight surety bonds in all states where they are required by law. Our special program affords access to these bonds regardless of credit and financial condition of the applicant. For more information call (800) 373-2804, email Underwriting@SuretyOne.com or click here to discuss an oversized overweight bond.
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