A Virginia Passenger Carrier/Broker Bond is a $25,000 financial guarantee required for businesses that transport passengers or arrange passenger transportation services in Virginia. This bond protects customers and the state if the transportation company breaks laws, fails to provide promised services, or causes finan…
Overview
What it is.
A Virginia Passenger Carrier/Broker Bond is a $25,000 financial guarantee required for businesses that transport passengers or arrange passenger transportation services in Virginia. This bond protects customers and the state if the transportation company breaks laws, fails to provide promised services, or causes finan…
Who usually needs it
Passenger carriers and passenger brokers licensed by the Virginia Department of Motor Vehicles need this bond. This includes Transportation of Passengers Brokers who arrange passenger transportation services, Contract Passenger Carriers who transport groups of passengers for a group fee, and licensed passenger carriers engaged in transporting passengers for…
Pricing & timing
What to expect.
Generic pricing
License bonds are required by state and local governments to ensure compliance with industry regulations. Typical Pricing:. • Small bonds (under $25,000): Typically $100–$250 per year (flat fee). • Larger license bonds: Commonly around 1–5% of the bond amount annually. • Credit impact: Good credit: starting around 1–2% · Average credit: typically 2–4% · Credit challenges: often 4–5% or higher. Same-day approval is typical for many common license bonds. Some license bonds may price higher de…
Typical timeframe
Issuance timeframe varies by bond type and underwriting
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.
StateVABond amount$25,000ObligeeState of VirginiaBond classLicense BondCategoryTransportationBondVirginia Passenger Carrier/Broker BondJurisdictionStatePlain descriptionA Virginia Passenger Carrier/Broker Bond is a $25,000 financial guarantee required for businesses that transport passengers or arrange passenger transportation services in Virginia. This bond protects customers and the …Who needs this bondPassenger carriers and passenger brokers licensed by the Virginia Department of Motor Vehicles need this bond. This includes Transportation of Passengers Brokers who arrange passenger transportation services, Contract P…
