The bond provides protection to your customers in a range of situations.
The most common cases when the bond coverage can be activated include:
- Breach of warranties
- Fraudulent financing schemes
- Title transference issues
- Misleading information about sold vehicles
- Interference with odometer readings
- Non-payment of sales tax or fees and inaccurate reporting
- Other potential breaches of dealer licensing requirements
In such situations, a harmed client or other parties can file a claim against the auto dealer bond to demand fair compensation.
Related FAQs
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