Becoming a Designated Agent
Alabama Used Car Dealers! There are new guidelines for registered agents in Alabama. You must first be a Designated Agent through the State of Alabama. Click here to see the Alabama’s Department of Revenue’s guidelines to becoming a Designated Agent today! Any non-dealers are required to post a $25,000 surety bond payable to the State of Alabama. To get started today, fill out our simplified Alabama Designated Agent Application or call our Underwriters at (404)-486-2355 or (877)-201-8976 to discuss. Still unsure about what this means? Let American Surety help!
What is a surety bond?
A surety bond is an independent 3-party agreement to the principal (the person who needs the bond), the Obligee (the person requiring the bond) and the surety agency (the person who sells the bonds). Having a surety bond guarantees compliance for State regulations and verifies your company’s trustworthiness.
Who is the Obligee?
The Obligee in this instance would be The State of Alabama.
How much does this cost?
The cost to purchase the bond, the bond premium, is dependent on your bond amount (which in this case is $25,000), your net worth, years in business, your credit, and many other factors. The bond premium is usually around 1% (or higher) of the bond amount. Let American Surety fill your needs today by fill out our simplified Alabama Designated Agent Application or call our Underwriters at (404)-486-2355 or (877)-201-8976 to discuss. Apply today, Approve today.
How does my credit affect me?
American Surety has options for credit in all shapes and sizes! Good credit? We have a fast track program that may be right for you. Average credit? Our simplified application can get you approved quickly! Challenged credit? No fret! Financing is available in most cases, just call (404)-486-2355/ (877)-201-8976 to discuss with our Underwriters. Get your bond now! Apply today, approve today!