What is a Texas Over Axle and Over Gross Weight Tolerance Permit Bond?
Learn about this surety bond today and how to obtain it!
The Texas Department of Transportation, in under the provisions of the Texas Transportation Code, obligates commercial vehicles transporting non-agricultural commodities that have the following conditions to secure a surety bond as part of their permit requirement:
- Have an axle weight that is not heavier than the commercial vehicle, trailer, semitrailer or a combination of those; or a truck-tractor plus any of the vehicles mentioned above’ maximum allowable axle weight plus a tolerance allowance of ten percent.
- Have a gross weight that is not heavier than the commercial vehicle, trailer, semitrailer or a combination of those; or a truck-tractor plus any of the vehicles as mentioned earlier’ maximum allowable gross weight plus a tolerance allowance of five percent.
What is the bond for?
Because the aforementioned large axle motor vehicle groups carry loads that are beyond the maximum limit, a relative damage to the roads under the jurisdiction of the Texas Department of Transportation Commission or the County Commissioners Court may occur.
If this happens, the Texas Department of Transportation would like to be financially assured that they can file a claim and be compensated for any road repairs. This includes both state highways and county roads.
The surety bond will be an agreement between these three parties:
Principal – person applying for the Over Axle and Over Gross Weight Tolerance Permit
Obligee – Texas Department of Transportation and the Texas counties
Surety – surety bond company
How much is the bond amount?
The bond amount is $15,000, payable to the Texas Department of Transportation and the counties of Texas.
The surety bond premium will depend on several factors. If you have a stellar credit standing, you may be eligible to pay only $150.
If you want to find out what’s yours, get a FREE quote from us today!
How can I get an Over Axle and Over Gross Weight Tolerance Permit Bond?
Here are the steps in acquiring this surety bond:
- Apply for this surety bond from a reliable surety bond company that is authorized in Texas such as Surety Bond Authority.
- The prequalification process will come next. During this step, an underwriter will assess your credentials such as your financial status, job performance history, and credit score.
- Once qualified, the surety bond company will complete the Over Axle and Over Gross Weight Tolerance Permit Bond form 1753, execute the bond and send it to you.
What else are the requirements for the Over Axle and Over Gross Weight Tolerance Permit application aside from the surety bond?
- Complete the Over Axle and Over Gross Weight Tolerance Permit application form 1751
- Pay the necessary Permit Base Fee of $90/vehicle
- Pay the Texas DMV Administration Fee of $5/vehicle
- Pay the County Designation Fee:
|NUMBER OF COUNTIES|| |
Do you need more information about this bond? Call us or send us an email!