Motor vehicle salesperson license applicants or licensees, if the department has reasonable cause to doubt their financial responsibility or compliance with motor vehicle laws. Required when: The department requires the bond when there is reasonable cause to doubt the financial responsibility of the applicant/licensee…
Overview
What it is.
Motor vehicle salesperson license applicants or licensees, if the department has reasonable cause to doubt their financial responsibility or compliance with motor vehicle laws. Required when: The department requires the bond when there is reasonable cause to doubt the financial responsibility of the applicant/licensee…
Who usually needs it
Motor vehicle salesperson license applicants or licensees, if the department has reasonable cause to doubt their financial responsibility or compliance with motor vehicle laws.
Pricing & timing
What to expect.
Generic pricing
Performance bonds guarantee that a contractor will complete a project according to the contract terms. Typical Pricing:. • Small contracts: Commonly around 1–5% of the contract value (one-time upfront premium). • Larger contracts: Rates generally scale lower as contract size increases. • Credit impact: Good credit: starting around 1–2% · Average credit: typically 2–4% · Credit challenges: often 4–5% or higher. • Full underwriting required: Credit, financials, experience, and bon…
Typical timeframe
Full underwriting required — typically 3–5 business days
Application
What to do next.
Tell us the bond name, state, and amount on your form.
Share business and applicant info so the team can quote it.
Sign and pay; we issue the bond and send you the documents.
Keep your effective date and renewal date on file with us.
Start the application.
You are on the exact bond page. The next step is to start the quick application.
StateWIBond amountThe amount is determined by the department but shall be not less than $5,000 no…Term lengthContinuousObligeeWisconsin Department of TransportationRenewalThe bond must be maintained in force as long as the license is active or until the department determines the security is no longer required.Bond classPerformance BondCategoryTransportationBondAdditional BondStatutory referenceWis. Stat. § 218.0114(20)JurisdictionState
