You are watching: What is a second division vehicle
The surety bond will certainly serve together a financial guarantee to the Illinois Secretary the State that the owner of the second department motor auto will pay the essential amount ~ above time and also in full.
In the event of a non-payment, the Obligee will be able to recover the amount – which includes excess purpose of use fees, penalties, and other fees – by filing a claim against the surety bond.
Second division motor vehicles are those the are supplied for the adhering to purposes:Pulling or transporting freight, cargo, or any kind of tools used for husbandryMotor vehicles the carry much more than ten personsMotor vehicles designed because that living quartersFirst division motor vehicles that room remodeled into second department motor vehicles
Second division motor vehicles that room subjected to taxation includes:A motor car that has a gross weight of 8,000 lbs. Or lessVan-configured motor vehicles that bring 7-16 passengersMotor vehicles that are permanently converted into living quarters for recreational purposes
What is the Second division Motor Vehicles link amount?
The bond amount is $500.
If friend have wonderful credit score, you will certainly be eligible come pay for a short bond premium. Link premium starts in ~ $30.
Check the end what you must pay for by acquiring your FREE SURETY bond QUOTE HERE!
How deserve to I obtain a Second division Motor Vehicles Bond?
We have actually made the surety bond procedure less complicated for you! just follow these simple steps:
STEP 1: friend must first apply because that this kind of surety bond. If girlfriend are prepared to execute that now, you might APPLY HERE!
Once we have received her application, us will automatically start the bonding process. Us will notify you about the important records that you must submit for the next step, which is the underwriting process.
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STEP 2: one underwriter will certainly take a thorough look at at your credit score to be able to process your bond.
STEP 3: after ~ the underwriting process has been fulfilled, we will concern your surety bond and also send it come you immediately!
What space the surety shortcut conditions?The surety bond need to be authorize by a Surety who is authorized to conduct company in the State that IllinoisThe Secretary of State, State the Illinois need to be called as the Obligee that the surety bondIf the owner the second division motor car commits a violation, the Obligee will be eligible to record a claim against the bond
GET YOUR totally free SURETY bond QUOTE TODAY!