In Arkansas, if title to a motor vehicle is unavailable whether it be lost or stolen, the state’s Commissioner may require you to obtain a certificate of title. This also known as an Arkansas “bonded title” and the process is administered by the state’s Office of Motor Vehicles – Bonded Title.
The Commissioner requires this bonded title as a condition of issuing you a title to the vehicle. Besides obtaining the bond, you will have to verify that:
To complete this certification you will need to complete this form. The vehicle identifying information that you provide on this form will also be needed to issue your surety bond.
On our end, our agency will provide you with the surety bond required.
The Arkansas certificate of title bond is required in an amount to be determined by the Commissioner. In determining the amount of surety bond you will require, the Commissioner uses the following formula:
The amount of the Arkansas certificate of title surety bond will be 1 ½ times the value of the vehicle – as determined by the Commissioner. (See page 2 of this link)
Please note: Up to and including $50,000 surety bond amount requirement, our agency offers you the bonded title for just 1% of the amount required (with a minimum amount of $100), and with no credit check inquiry nor review by an underwriter.
What this means for you is that after completion of an application and payment of the premium, our agency issues this bond to you immediately. It is an “instant issue” surety bond.
If the certificate of title bond amount you require is greater that $50,000, then the amount will still be 1%, but there is also a credit check review, and an applicant will need to have good credit to qualify for the 1% premium.
Whether your bonded title is more than $50,000 or less, once the bond amount has been paid for, our agency will have the bond sent to you by the next business day. We can also email you a copy of your surety bond; however, it is the original bond which you will sign and which bears our signature, that you will provide to the state.
The premium paid for the Arkansas certificate of title bond is a onetime premium payment only. The bonded certificate of title to your vehicle is for a period of 3 years.
The purpose of a certificate of title bond is to protect the state of Arkansas and any consumers – whether prior owners of your vehicle or subsequent owners, from any financial loss or harm caused to them if it is later discovered that the bonded title was issued to you with substantive missing information.
AmeriPro Surety Bonds is a surety bonds only agency. We provide surety bonds throughout Arkansas. Our agency also provides surety bonding nationwide.
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