What is an Illinois Certificate of Title Bond?

Obtain your certificate of title through this surety bond!

Illinois Certificate of Title BondWhen you apply for a certificate of title, the Illinois Secretary of State, Vehicle Services Department will accept the requirements, evidence, and proof as correct until proven otherwise.

In the event that the Illinois Secretary of State, Vehicle Services Department is not satisfied regarding the real owner of the vehicle, or that there are no uncredited security interests, the person applying for a certificate of title will be required to procure a sufficient surety bond.

In the event that a previous owner, lienholder, or any security interests lay claim on the vehicle, the surety bond will be used to compensate the said persons, as well as their respective successors.

The case must be proven first before the Obligee of the surety bond can file a claim. This requirement is in compliance with the Illinois Vehicle Code.

 

What is the Certificate of Title Bond amount?

The bond amount will vary per vehicle and will be determined by the Illinois Secretary of State, Vehicle Services Department.

Those who have excellent credit scores will be eligible to pay a very low bond premium!

 

How can I get a Certificate of Title Bond?

You can easily get this surety bond from us! We will guide you through the entire process. We’ll make sure that you will understand what you are getting into.

Here’s how to do get bonded:

  1. You have to send an application to us.If you have determined your bond amount, you may check you bond premium by getting your Certificate of Title Surety Bond Quote Here for FREE!
  2. After we have received your application, we will ask you to submit the necessary information needed for the underwriting process. This will include your credit score.

An expert underwriter will carefully evaluate your submitted documents to attain the best credit decision possible. To avoid any delay, the information that you should submit should be organized and concise.

  1. Your surety bond will be issued and sent to you!

 

What are the surety bond conditions?

  • The surety bond should be issued by a surety bond agent or company that is authorized to conduct business in the State of Illinois
  • The financial compensation will include attorney’s fees and other reasonable expenses
  • The Principal along with the Surety will compensate any prior owner, lienholder, subsequent purchaser, or person acquiring any security interest on the vehicle once the claim is proven
  • The Principal (certificate of title applicant) must obey the provisions of the Illinois Vehicle Code, as well as the rules and regulations of the Illinois Secretary of State, Vehicle Services Department

Ready to apply for your surety bond? Call us HERE!

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