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Michigan Mobile Home Consumer Deposit Bond

The Michigan mobile home consumer deposit bond is required of dealers in an amount to be determined by the state’s commissioner. Please call AmeriPro Surety Bond’s today at 844-589-9732.

Michigan Mobile Home Consumer Deposit Bond |

AmeriPro Surety Bonds | 844-589-9732

 

 

 

Mobile Home Dealers – Michigan

 

 

 

In addition to the Mobile home dealer surety bond required of dealerships, you may also be required to obtain a surety bond for consumer deposits.

AmeriPro Surety Bonds offers both types, as a first time and renewal surety bond, as required by state law.

 

 

 

Michigan Mobile Home Consumer Deposit Bond: Amount Required

 

 

 

According to Michigan state law, Section 125.2324 the amount of the of surety bond required of mobile home dealers is “…in an amount acceptable to the commission.”

As a practical matter, the minimum amount of surety bond required will be $10,000.

Statutes don’t provide a maximum amount; however, the commission will inform you of the amount of surety bond that you require and our agency will facilitate obtaining that amount for your company.

 

 

 

Michigan Mobile Home Consumer Deposit Bond: Its Cost and the Surety Bond’s Duration

 

 

 

The amount that you will have to pay for the issuance of this surety bond will be determined by the amount of the surety bond you require, an application and your credit score.

As a very broad general rule, applicants for the Michigan mobile home consumer deposit bond will typically pay around 2% of the bond’s face amount; however, the amount that you will be required to pay may vary from this general statement.

Once issued, this surety bond is active for one year, and must be renewed to remain in compliance with state law.

 

 

 

The Mobile Home Consumer Deposit Bond’s Purpose

 

 

 

Whereas the mobile home dealer bond protects the state for the collection of sales and use taxes, the Michigan mobile home dealer consumer deposit bond is for the protection of your customers.

The bond is a financial guarantee for your customers that the deposits collected from them will be used as agreed and contracted.

The consumer deposit surety bond, therefore, while required of your company, is solely for the benefit of your customers.

That having been stated, it is also important to point out, that as principal for this surety bond, you will ultimately should the responsibility for any costs and fees to the surety, should a claim ever be paid against your surety bond.

 

 

 

About Us

 

 

 

AmeriPro Surety Bonds is a surety bonds-only agency. We provide license and permit, contractor, court, and fiduciary surety bonds throughout all of Michigan.

Our agency also provides surety bonds nationwide.

Please call AmeriPro Surety Bonds today at:

 

 

 

844-589-9732

 

 

 

Or, you may fill out our form below and an agent will contact you.

 

 

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AmeriPro Surety Bonds

Our focus is exclusively surety bonds. We have two areas of concentration: YOU, our customer; and providing you with the surety bond that you need. Whether the bond is an "instant issue"; is for a contractor; a court bond; or one for a client with lower credit scores, AmeriPro Surety Bonds dedicates itself to providing our customers with a seamless, professional, and quick surety bond experience.

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