Virginia Chassis Interchange Bond Guide
Bond Overview
- Purpose: To ensure motor carriers comply with the intermodal chassis
- Who Needs It: Motor carriers entering an agreement with HRCP II, LLC
- Regulating Body: The HRCP II, LLC
- Required Coverage: $25,000
- Premium Rate: 1–10%, credit-based
Learn all about the bond requirements and process in this guide.
What Is a Virginia Chassis Interchange Bond?
Hampton Roads Chassis Pool (HRCP II, LLC) requires this bond for motor carriers that wish to enter a Chassis Interchange Agreement in Virginia.
Motor carriers being equipped with a chassis must file a chassis interchange bond to reimburse any costs of repairs or usage fees.
How Much Do Chassis Interchange Bonds Cost?
Virginia chassis interchange bonds cost a small percentage of the $25,000 coverage amount, typically $250–$2,500.
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 Virginia chassis interchange 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 sign and file it as instructed.
If you have any questions, call our friendly surety experts at 1 (800) 308-4358 for assistance.
How Does a Virginia Chassis Interchange Bond Work?
A chassis interchange bond creates a legal contract between these three parties:
- Principal: You, the motor carrier filing the bond
- Obligee: Hampton Roads Chassis Pool requiring the bond
- Surety: The provider issuing the bond
This holds you financially responsible for upholding the provisions of the chassis interchange 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 chassis interchange bond, simply pay your renewal invoice when prompted.
We’ll begin contacting you by phone and email 90 days before the expiration date.