The Alabama designated agent bond is a separate surety bond required only of non-auto dealers. For auto dealers, the Alabama motor vehicle surety bond satisfied this requirement.
Designated agents are licensed and regulated by the state’s Department of Revenue.
Meeting the surety bond requirement of designated agents - $25,000 – is the easiest part in your licensing process. Our agency’s goal is to make processing of this bond quick and within a few minutes.
The $25,000 Alabama designated agent surety bond is issued to you immediately upon completion of a surety bond application (which can be taken verbally over the phone with our agent) and payment of the $250 annual premium.
There is neither a credit inquiry nor an underwriting review involved to obtain approval for this surety bond.
After the completion of the surety bond application and payment of the premium, a copy of the bond can be issued to you. The original copy --- which you will need to sign as Principal --- will be mailed to you by the following business day.
Ideally, you should always file only the original surety bond with the AL Department of Revenue.
The Alabama designated agent bond is issued with a standard one year term. Thereafter, you will be required to renew your surety bond.
You also have the option to prepay this surety bond for 2 or 3 years. Prepayment allows for less frequent surety bond renewals and a savings over year to year renewal of your premium.
The prepayment options are as follows:
A designated agent surety bond is a guarantee for the Department and the state of Alabama that a licensed agent will conform to all laws involved as a designated agent. Chapter 32 of the Code of Alabama details your duties.
AmeriPro Surety Bonds is a surety bonds-only agency. We provide license and permit surety bonds throughout Alabama. Our agency also provides surety bonds nationwide.
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