What is an Arizona Certificate of Title Bond?
An Arizona Certificate of Title Bond is evidence of possession and rights over a particular motor vehicle. Such right permits that person to register the said motor vehicle, buy insurance for it, and sell it, if and when, necessary.
Why do you need the Arizona Certificate of Title Bond?
These are the instances when the Arizona Certificate of Title Bond is necessary – 1) upon purchase, no title or bill of sale has been furnished to you, 2) you received an incorrect title (e.g. where it places the wrong name in the buyer/seller space) upon procurement, 3) loss of title prior to transferring the vehicle’s ownership to your name.
More details about the Arizona Certificate of Title Bond
In Arizona, the bond amount is established after the total value of the vehicle has been multiplied by1.5. Whatever is the resulting amount is what you will pay as your bond premium.
To obtain this bond – 1) the vehicle needs to be examined by a certified 3rd party as a preventative measure to make certain that the motor vehicle is not illegally taken; 2) take the time to find as much information on the vehicle as possible. One way would be to contact a reliable company whose expertise lies on conducting vehicle searches. This entity will then make sure that it is not stolen or has not been used by an illegal activity (such as hold-up incidents). As soon as the vehicle search has been carried out, you will now have access to any and all information or records that may have been found in the vehicle; 3) fill up the application and complete all other forms; 4) find a reliable surety bond company and file an Arizona Certificate of Title Bond.
What is the cost of a Certificate of Title Bond?
The amount of your bond premium will depend greatly on your credit score and financial history. If you have problematic transactions in the past, you may be required to pay a higher premium. The bond premium can also be influenced by your past business performance, personal profile, standing within the business community most especially in the surety bond industry. Being convicted of a crime even if it happened decades ago, also matters in the determination of how much you should pay.
How do I get a Certificate of Title Bond?
Obtaining a bond is an easy process if you are with a surety professional. Give Surety Bond Authority specialists a call now! With Surety Bond Authority taking care of your business affairs, you will have the answers you need and the solution to whatever concerns you have in protecting your business.