Indiana BMVC Partial Service Provider Bond Guide
If you’re applying for a partial service provider in Indiana, you’ll need this surety bond.
Bond Overview
- Purpose: To ensure compliance with BMVC regulations and protect clients
- Who Needs It: Private companies who offer partial BMVC services to other companies
- Regulating Body: The Indiana Bureau of Motor Vehicles Commission (BMVC)
- Required Coverage: $10,000
- Premium Rate: $100–$300, credit-based
Learn all about the bond requirements and process in this guide.
What Is an Indiana BMVC Partial Service Provider Bond?
An Indiana BMVC partial service provider bond is a type of fidelity bond that ensures partial service providers will uphold their contract agreement.
The Indiana Bureau of Motor Vehicles Commission requires this bond as part of the licensing process for all partial vehicle service providers in the state.
How Much Do BMVC Partial Service Provider Bonds Cost?
Indiana BMVC partial service provider bonds cost a small percentage of the $10,000 coverage amount, typically $100–$300.
Exact rates vary based on personal credit score. Apply for your free quote now!
SuretyBonds.com offers the lowest available rates from our nationwide provider network with no added fees.
How Do I Get My Bond?
SuretyBonds.com provides the fastest and easiest way to get a Indiana BMVC partial service provider bond. Just follow these quick steps:
- Apply: Submit an online quote request form
- Quote: Receive your quote within one day
- Sign: Complete the indemnity agreement
- Buy: Purchase the bond online 24/7
We’ll mail you the bond via your preferred shipping method. Be sure to file it with the Indiana BMVC as instructed.
If you have any questions, call our friendly surety experts at 1 (800) 308-4358 for assistance.
How Does an Indiana BMVC Partial Service Provider Bond Work?
A BMVC partial service provider bond creates a legal contract between these three parties:
- Principal: You, the BMVC partial service provider owner(s) filing the bond
- Obligee: The Indiana Bureau of Motor Vehicles Commission requiring the bond
- Surety: The provider issuing the bond
This holds you financially responsible for upholding all terms of the contractor agreement.
If you break the bond terms, harmed parties can file claims. The surety will pay valid claims up to the bond amount, but you must ultimately refund the surety.
How Do I Renew My Bond?
These bonds expire annually. To renew your BMVC partial service provider bond, simply pay your renewal invoice when prompted.
After renewing, you’ll receive a continuation certificate to file with the as proof of ongoing coverage.