New Jersey ignition installer companies are regulated by the state’s Motor Vehicle Commission.
The Commission both regulates BAIID (Breath Alcohol Ignition Interlock Devices), and requires applicants to obtain a surety bond as a prerequisite for licensing.
The New Jersey alcohol ignition interlock device is a $10,000 surety bond required by the Commission.
Once issued, the bond is active for a year, and must be renewed annually as a continued condition of licensing.
Your $10,000 ignition installer surety bond will have a premium (the amount you will pay for its issuance) that will be determined by an application and likely a credit check.
Applicants will typically pay around 1% of the bond’s amount or around $100; however, information provided on a surety application may cause this amount to vary.
The $10,000 breath alcohol ignition interlock device surety bond is a financial guarantee which benefits the Commission, and by extension, the people of the state of New Jersey.
The bond protects against legal breaches by either a manufacturer of an interlock device or a service center of a manufacturer.
As principal (its guarantor) of this surety bond you (and your company) are always responsible for any claims paid against your suety bond (were that ever the case). This means that if a surety were to pay a claim, your legal responsibility involves reimbursing the surety for all associated costs and fees in the settlement of that claim.
AmeriPro Surety Bonds is a surety bonds-only agency. We provide license and permit, contractor, court, and fiduciary bonds throughout New Jersey.
Our agency also provides surety bonds nationwide.
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