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Auto Dealer Surety Bonds in Claim Process

In this installment of surety bonds we will continue to look at major points of the claim process in auto dealer surety bonds. Eligibility Only certain consumers are eligible to process a claim against the auto dealerships surety bond. –          Consumer Purchaser:  Most of the claims that a consumer will make are related to the…

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Major Points Of The Claim Process In Auto Dealer Surety Bonds

To avoid confusion we will discuss some of the major points of the claim process in auto dealer surety bonds. Surety bonds are not the same as an insurance policy. A surety bond protects the consumer not the business.  The surety bond is an agreement that outlines an obligation of one of the parties, in…

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Congress Tightens Surety Asset Rules

The defense authorization also expands SBA-backed surety bonds Tucked into the defense authorization passed by Congress Monday are little-noticed amendments that should eliminate much of the fraud that has characterized individual surety bonds and expand the Small Business Administration’s flexibility in backing bonds for small contractors. The surety measure tightens up the rules for using…

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Carwash Owners Sue NYC Over New Surety Bond

A group of carwash owners have filed a lawsuit against New York City charging a new law illegally favors unionized carwashes. The Association of Car Wash Owners lawsuit centers on rules that require owners of nonunionized carwashes to post $150,000 surety bond before obtaining a license. Unionized operations pay only $30,000. The association says the…

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