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Writing More License Bonds Than Any Other Independent Agency In America! Providing Surety Bonds, MVD Bonds, Garage Liability Insurance, Car Dealer Bonds, and Car Dealer Insurance. Specializing in the Car Dealer Industry serving independent car dealers for over 40yrs.

Writing license bonds such as florida surety bonds, surety bonds, mvd bonds or motor vehicle dealer bonds, and garage liability insurance in many states. Specializing in used car dealer bond, salvage bonds, used car dealer insurance, new mexico bond, and new mexico contractor bond - orlando florida.
     
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BONDS & INSURANCE

24 HOUR PROMISE:
We process your bonds in 24 hours.
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What are surety bonds?

A surety bond is a contract among at least three parties:

  • The principal - the primary party who will be performing a contractual obligation
  • The obligee - the party who is the recipient of the obligation, and
  • The surety - who ensures that the principal's obligations will be performed.

Surety bonds are issued by banks and are called "Bank Guarantees". They pay out cash to the limit of guarantee in the event of default of Principal to uphold his obligations to Obligee, without reference by Obligee to Principal and against obligee's sole verified statement of claim to the bank.

Through a surety bond, the surety agrees to uphold — for the benefit of the obligee — the contractual promises (obligations) made by the principal if the principal fails to uphold its promises to the obligee. The contract is formed so as to induce the obligee to contract with the principal, i.e., to demonstrate the credibility of the principal and guarantee performance and completion per the terms of the agreement.

The principal will pay a premium (usually annually) in exchange for the bonding company's financial strength to extend surety credit. In the event of a claim, the surety will investigate it. If it turns out to be a valid claim, the surety will pay it and then turn to the principal for reimbursement of the amount paid on the claim and any legal fees incurred.

If the principal defaults and the surety turns out to be insolvent, the purpose of the bond is rendered nugatory. Thus, the surety on a bond is usually an insurance company whose solvency is verified by private audit, governmental regulation, or both.

A key term in nearly every surety bond is the penal sum. This is a specified amount of money which is the maximum amount that the surety will be required to pay in the event of the principal's default. This allows the surety to assess the risk involved in giving the bond; the premium charged is determined accordingly.

Surety bonds are also used in other situations, for example, to secure the proper performance of fiduciary duties by persons in positions of private or public trust.

MVD Bonds are required to obtain your dealer license for the state your dealership is in. MVD Bonds do not protect you or your business; it protects the consumer or state from fraud. Ashton Agency provides MVD bonds.
 
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This is not an offer of insurance or surety ship. Do not cancel any insurance coverage or surety bonds coverage. Restrictions apply. Subject to availability by State and underwriting approval, where applicable by law. All coverage's are not available in all states.

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