California International Registration Plan (IRP) Bonded Web User Bond
Know the importance of this surety bond and how to get one ASAP!
What is a California International Registration Plan IRP Bonded Web User Bond?
Every person who is part of the Bonded Web User (BWU) Program of the California Department of Motor Vehicles’ (DMV) IRP System is required to obtain this bond before the said person can process interstate registration services for apportioned vehicles on a remote basis.
As mandated by Article 4 and Article 5, Chapter 4, Division 3 of the Vehicle Code, this bond will ensure the compliance of the person to the IRP Bonded Web User Agreement.
In addition, this bond will pay the State of California or any of its officers, agents, or employees if the person commits any misconduct arising from activities under the International Registration Plan (IRP) Bonded Web User Agreement.
How much does a California International Registration Plan IRP Bonded Web User Bond cost?
This will be on a case-by-case basis. The bond premium will start at 1% of the bond amount for those who have excellent credit scores.
The bond amount $50,000.
Know what you need to pay right now! GET YOUR FREE QUOTE HERE today!
How can I get a California International Registration Plan IRP Bonded Web User Bond?
Here’s a step-by-step bonding process that we have made easier so that you can get your bond in no time:
APPLY FOR THIS BOND
If you are ready to do this now, you may APPLY HERE!
One of our expert surety bond agents will guide you through the entire process – from the time you have applied until the bond is issued to you.
UNDERWRITING
Next, you will be asked to submit a few important information that our underwriter requires to assess the following:
- Your job or business history
- Your credit score
- Your financial strength
To avoid any delays, make sure that you have gathered the right information needed prior to submitting your application.
BOND ISSUANCE
After the indemnity agreement is signed, the bond will be issued and sent to you!
How does a California International Registration Plan IRP Bonded Web User Bond work?
This bond is composed of three parties:
- Principal – Bonded Web User
- Obligee – State of California
- Surety – the surety bond company
The Principal is the party who is required to perform all the pre-determined conditions stated in the bond. The Obligee is the beneficiary of the bond. The role of the surety is to assure the Obligee that the Principal will fulfill the bonded obligations. The surety will also provide financial security by backing this bond in case the principal violates the obligations. The surety is required to ensure that the obligee will be paid if a valid claim is made. After the payment has been settled by the surety, the principal will be asked to reimburse the said payment.
Apply for this bond even if you have a low credit score! START HERE!
