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Mississippi $15,000 Designated Agent Bond

Cost: $150.00 / 1-year term

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How much does a $15,000 designated agent bond cost in Mississippi?

The Mississippi Department of Revenue’s Motor Vehicle Licensing Bureau requires designated agents to post $15,000 surety bonds.

Mississippi designated agent bonds are issued instantly and cost $150. 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 being bonded as a Mississippi designated agent.

Need information on getting bonded as a motor vehicle dealer in Mississippi? Visit our dedicated Mississippi auto dealer bond page.

Bond Type Bond Amount Cost
$15,000 Designated Agent Bond $15,000 $150

What are Mississippi designated agend bonds?

Mississippi designated agent bonds hold the principal (vehicle dealer) responsible for carrying out all duties in compliance with state laws found in Section 6, Senate Bill 1688, Laws of 1968 - otherwise known as the Mississippi Motor Vehicle Title Act. If a principal fails to abide by state-mandated vehicle industry ordinances or violates the terms of his or her bond agreement, the surety will cover damages up to the full bond amount. The principal, in turn, must compensate the surety for any damages paid out.

What else do I need to know about designated agent bonds in Mississippi?

Mississippi motor vehicle dealer bonds for designated agents are required by the State of Mississippi and remain in full force unless canceled by the surety. The surety can cancel the bond by giving 30 days’ notice in writing to the Department of Revenue of the State of Mississippi.

How to become a designated agent in Mississippi

To become licensed as a designated agent in Mississippi, applicants must forward the originals of all applications received to the State Tax Commission within one business day of receiving them. Any evidence of title must accompany the applications.

The applicant will be billed an additional fee of $2 for each application for title not received by the State Tax Commission within 10 days of the date shown on the title application.

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Additional Resources

Mississippi Department of Revenue Bond of Designated Agent (For Motor Vehicle Dealers Only) form

Title 35 Mississippi State Tax Commission Part VII Motor Vehicles and Title

Department of Revenue Motor Vehicle Regulations-Dealers Subpart 04 Motor Vehicle Dealer Permit

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