The PrePass Safety Alliance has a well-establish program which facilitates the efficient movement of transport vehicles by transponder and scanning capture along the highways of participating jurisdictions. Tolls due to those jurisdictions are collected by the PSA from firms that participate in the licensing program. PrePass "furnishes a line of credit for tolls and service fees to the Principal (transporter) as owner under the terms and conditions of the PrePass® License Agreement ("Agreement") between the transporter and the Alliance". To guarantee payment of the obligations under the license agreement, a PrePass financial guarantee surety bond is required.
The nature of the obligation is clear and is a strict financial guarantee. The PrePass bond form sates, "the Principal shall pay the full amount of all sums which become due for the services (PrePass toll services) to be furnished the Principal and/or all monies to become due under the terms of the license Agreement, in the manner at the time provided, and; that the liability of the Surety under the surety bond will not be cumulative from year to year, nor shall the Surety be liable for more than the total amount of" the face value of the bond. PrePass surety bonds and inquiries regarding the same may be directed to:
PrePass Safety Alliance
101 E. Washington Street, Suite 500
Phoenix, AZ 85004
National surety bond leader, Surety One, Inc., is a national underwriter of surety bonds for the transportation, shipping and freight broker sector. We will consider applications for operations in all states where PrePass Safety Alliance programs are in effect. For further information about the PrePass financial guarantee surety bond contact us at (800) 373-2804, email Underwriting@SuretyOne.com or click here for a live chat with an underwriter.
NOTE: ARE YOU A FREIGHT BROKER? WE BMC-84 FREIGHT BROKER BONDS TO ALL DOMESTIC AND TERRITORIAL PROPERTY BROKERS.
Surety bond application review and quoting are free of charge. There is no obligation to purchase.