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Motor Vehicle Dealer Bonds - Sole Proprietorship vs. Corporation


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Old 03-05-2008, 11:28 AM
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Default Sole Proprietorship vs. Corporation

I was approved for a Motor Vehicle Bond and on my application I accidentally put I was incorporated - so when I received my bond it had "Inc" on the bond form. Since I am actually a sole proprietorship, what do I need to provide to the surety to show this so I can have my bond changed?
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Old 03-05-2008, 05:07 PM
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Default Motor Vehicle Dealer Bonds

Quote:
Originally Posted by Mr. Bond
I was approved for a Motor Vehicle Bond and on my application I accidentally put I was incorporated - so when I received my bond it had "Inc" on the bond form. Since I am actually a sole proprietorship, what do I need to provide to the surety to show this so I can have my bond changed?
I would recommend that you touch base with your bond agent to see specifically what needs to be done as it seems that each Surety has their own requirements.
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