North Carolina Manufactured Home Dealer Bond |
AmeriPro Surety Bonds | 844-589-9732
Manufactured Home Dealers – North Carolina
Manufactured home dealers operating in North Carolina are licensed and regulated by the state’s North Carolina Manufactured Housing Board.
It is this department which is the obligee (that is, the entity requiring the surety bond) for manufactured housing dealers in the state.
North Caroling Manufactured Home Dealer Bond: Amount and Number of Surety Bonds Required
According to North Carolina state law, the surety bond requirement of manufactured home dealers is as follows:
- A NC manufactured home dealer with one place of business must furnish evidence of a $35,000 surety bond;
- North Carolina manufactured home dealers with more than one location must provide a $25,000 surety bond for each additional location in addition to the $35,000 surety bond.
This Surety Bond’s Cost and Bond Term
As an applicant for the North Carolina manufactured home dealer bond the price that you will be required to pay for this surety bond will depend on several factors:
- The number of surety bonds required;
- Information provided on your application and your credit credit score;
- At what period of the year the bond is purchased (the manufactured home dealer bond license expires on June 30th of each year, as does the surety bond). The first year premium may therefore be prorated depending on when during the calendar year the bond is purchased.
As a very wide and very general rule of thumb, an applicant with very good credit may pay as little as 1% of whatever surety bond amount is required; however, the amount you will be required to pay as premium may vary considerably depending on the information and the conditions listed above.
AmeriPro Surety Bonds will work to find you the best surety bond pricing.
North Carolina Manufactured Home Dealer Bond: Its Purpose
The manufactured home dealer bond is a financial guarantee that you will be in compliance with all laws governing manufactured home dealing in the state, particularly Chapter 143, Article 9A.
The bond protects those who can credibly demonstrate harm for violations of the law.
It is designed in a more general sense to protect the public from any acts of fraud, theft, malfeasance or misfeasance in the operation of a manufactured home dealer business.
As principal of this surety bond, you ultimately shoulder the responsibility for any claims paid against your bond. And by means of the bond, you affirm that you will reimburse the surety for all costs and fees paid should any claims be made against your business.
AmeriPro Surety Bonds is a surety bonds only agency. We provide license and permit, court, contractor and fiduciary surety bonds throughout North Carolina.
Our agency also provides surety bonds nationwide.
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