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How much does a consumer goods dealer bond cost in Washington, D.C.?
The Department of Consumer and Regulatory Affairs requires that consumer goods dealers in the District of Columbia post a surety bond. The required bond amount for consumer good repairers is $2,000 unless the dealer employs more than five repairmen, increasing the required bond amount to $5,000.
Whether you need a $2,000 bond or a $5,000 bond, SuretyBonds.com issues these two-year bonds instantly for just $175. Simply click Buy Now to purchase your bond online using our secure bond checkout. In just a few minutes you can be on your way to getting bonded as a consumer goods dealer in Washington DC.
Why do I need this bond?
By posting a consumer goods dealer bond, principals (consumer goods dealers) pledge to conduct business according to Consumer Goods Repair Regulation, No. 74-3 of the District of Columbia.
If principals fail to conduct business according to the statutes outlined on the bond form, harmed individuals can make a claim on the bond to recover reparations. If the claim is valid, the surety will cover damages up to the full bond amount. The principal is then required to reimburse the surety for all claims paid out.
What’s the fine print?
Consumer goods dealer bonds in Washington, D.C, remain in full force and effect through the license period and end no more than two years from the effective date stated on the bond form. The surety can cancel this bond by providing 30 days’ written notice of cancellation to the principal and to the Department of Consumer and Regulatory Affairs.
How to become a consumer goods dealer in Washington DC
Prior to repairing vehicles, auto repairers must be licensed by the District. All basic business license applications for auto repair must be accompanied by the following materials:
- $70 application fee
- $406 category license fee
- $25 endorsement fee
- 10% technology fee of $50.10
- Corporate registration
- Clean Hands Self-Certification
- Tax number
- Certificate of Occupancy
- Written estimate
- Surety bond in the proper amount
Applications can be mailed, turned in in-person or submitted online to the Business License Center. Once approved, the license remains valid for two years.