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MV 375

This document is a bond form for manufacturers, dealers, agents, messenger services, and salvors in Pennsylvania. It outlines the terms of the bond including the parties, amount, effective period, claims process, and requirements to notify parties if the bond is cancelled. It provides the procedures for handling claims against the bond within 90 days and if claims exceed the bond amount.

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Shawn Stevens
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0% found this document useful (0 votes)
34 views4 pages

MV 375

This document is a bond form for manufacturers, dealers, agents, messenger services, and salvors in Pennsylvania. It outlines the terms of the bond including the parties, amount, effective period, claims process, and requirements to notify parties if the bond is cancelled. It provides the procedures for handling claims against the bond within 90 days and if claims exceed the bond amount.

Uploaded by

Shawn Stevens
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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MV-375 (7-21)

MANUFACTURER/DEALER/FULL AGENT/CARD
AGENT/MESSENGER SERVICE/SALVOR BOND
www.dmv.pa.gov Bureau of Motor Vehicles • Regulated Client Services • PO Box 68283 • Harrisburg, PA 17106-8283

DEALER/BUSINESS PARTNER/AGENT/MESSENGER/SALVOR ID NUMBER: ________________________

BOND NUMBER: ________________________

Name of Principal ,
doing business as
Business Name ,
located at
Street ,

City State Zip Code County ,

(NOTE: If there are any branch offices, check here r and list them at the bottom of the last page, or attach a list).
as Principal,
and
Name of Surety Company ,
located at ,
Street City

( )
State Zip Code County Telephone ,

a corporation incorporated under the laws of the State of _________________________________, authorized to


do business in the Commonwealth of Pennsylvania, with a Pennsylvania main office located at
,
Street City State Zip Code

as Surety, are held bound unto the Commonwealth of Pennsylvania (Commonwealth), and to any person who shall
enter into any transaction with the Principal in the Principal’s official capacity as authorized by the Commonwealth,
as obligees in the full and just sum of $_____________ to be paid to the Commonwealth or its assigns, to which
payment we do hereby bind ourselves jointly and severally, our heirs, executors, administrators, successors and
assigns.
Signed and sealed on __________________________________.

Whereas the Principal is applying for designation as one or more of the following and is required to file this
bond as provided in the corresponding department laws/regulations:
YES NO
r r Manufacturer/Dealer 75 Pa.C.S. 1335
r r Full/Issuing Agent 75 Pa.C.S. 7503.1
r r Card Agent 75 Pa.C.S. 7503.1
r r Messenger Service 75 Pa.C.S. 7503.1
r r Salvor 75 Pa.C.S. 7302
NOW, THEREFORE, the conditions of this obligation is that if the Principal, during the term of this bond or
any renewal, in conduct of the business of manufacturer, dealer, full agent, card agent, messenger service, and/or
salvor shall comply with the provisions of the law and regulations governing the conduct of such business and shall
not cause any monetary loss to the Commonwealth in connection with the business limited to fees, sales tax and
monetary penalties, then this obligation shall be null and void; otherwise it shall remain in full force, virtue, and effect.
This bond shall cover all transactions entered into pursuant to the authorization granted to the Principal by
the Commonwealth in the course of the authorized business of the Principal. However, any claims presented after
the amount of the bond limit has been exhausted may be denied for lack of adequate coverage under the bond.

The Commonwealth may assign its interest in this bond to any person who shall make a claim against the
bond. In such a case, the Commonwealth may release the surety company from liability to the Commonwealth.

This bond shall be considered as being continuous in nature, except that, in the event that this bond is
cancelled, or not renewed for any reason, the surety shall notify the Bureau of Motor Vehicles, Manager of the
Regulated Client Services Section, Riverfront Office Center, 1st Floor, 1101 S. Front Street, Harrisburg, PA 17104-
2516, and the principal, at least sixty (60) days prior to the date that such action is to be taken. No cancellation shall
take effect until a period of at least sixty (60) days has elapsed from the date of the notice given to the Bureau of
Motor Vehicles.

If the Principal and/or Surety shall fail to keep any promise under this Bond, the Principal and Surety
authorize and empower any attorney of any court of record within the United States, or elsewhere to appear for
PennDOT and confess judgment against the Principal and/or Surety in favor of PennDOT. The Principal and Surety
further authorize PennDOT to permit any other person to so confess judgment if PennDOT believes such person has
been adversely affected by failure to keep any promise under this Bond, as often as necessary, as of any term, with
or without declaration filed, without stay of execution and without presentment, for such sum or sums as may be
payable, together with costs of suit and attorney fees, and with release of all errors. Principal and Surety waive
inquisition on any real estate and exemption of any property whatsoever, and authorize condemnation of same and
immediate issuance of a Writ of Execution, or exemption, and release and waive relief from any and all
appraisement, stay of execution, or exemption laws of any state or nation, now in force or hereinafter to be passed,
to the extent such statutes may be waived.

NOTE: Pennsylvania Statutes (71 P.S. Section 240.19A and 75 Pa.C.S. Section 1957) authorize PennDOT to collect
an uncollectible check penalty fee of $20 for each check returned to PennDOT, and a fee of $42 for each driver’s
license, registration, replacement of tags, transfer of registration, certificate of title, whether original or duplicate, and
each other unit of issue by PennDOT plus all protest fees to cover the cost of collection.

Payment Procedure

In the event that a claim is made on this bond the following procedure shall be employed.

1. The surety company shall hold claims in abeyance for a period of ninety (90) days commencing either on the date
such claim is filed by the Commonwealth or the date on which the surety notifies the Commonwealth of a claim
filed by any person. Such notification shall be made to the Manager of the Regulated Client Services Section,
Riverfront Office Center, 1st Floor, 1101 S. Front Street, Harrisburg, PA 17104-2516. This notification shall include
the name of the individual claimant, the reason for the claim and the amount of the claim. The surety shall not
provide the Commonwealth or any private individual with any remuneration until the end of the ninety (90) day
period.

2. At the end of the ninety (90) day period, if the claims exceed the amount of the bond limit, payment will be made
in the following manner: In all cases the Commonwealth shall have priority and be paid in full before any private
claims. The balance of the bond amount , if any, will be divided pro rata amount the private claimants. If, at the
end of the ninety (90) day period the total amount of all claims filed does not exceed the bond limit, then all claims
covered will be paid in full.

3. Any claims filed after the ninety (90) day period has expired shall be paid from the remainder of the bond amount,
if any. The date on which the claim has been filed shall determine the order in which payment shall be made.
Those claimants who have filed at the earliest date after expiration of the ninety (90) day period shall have priority.
CERTIFICATION BY PRINCIPAL

BOND NUMBER: _____________________________

WITNESS OR ATTEST:
Name of Principal

_______________________________________ BY:

TITLE:

CERTIFICATION BY SURETY

WITNESS OR ATTEST:
Name of Surety Company

BY:
Agent’s Name

TITLE:
SURETY
ADDRESS OF AGENT: COMPANY
SEAL

TELEPHONE:

Branch office(s), if any. Attach additional sheet(s), if necessary. (See instruction sheet to determine bond amounts
for each branch office.)

Street City County

Street City County

Street City County

Street City County

NOTE: If this bond is being executed by power of attorney, a copy must be attached.
INSTRUCTIONS FOR BOND AMOUNT

Manufacturer/Dealer: $20,000 for each place of business

Messenger Service: $50,000 - Additional $50,000 per branch office.

Full Agent: $30,000 for each place of business

Salvor: $10,000 for each place of business

Card Agent: $3,000

The required bond amount must be maintained at all times, with no exceptions. If, at any time, the amount
for which the Principal is bonded shall fall below the required amount, the Principal’s authorization to
operate in accordance with the applicable regulations shall be void.

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