![]() The Dismantler Bond is required to be filed every year for the license renewal. For those paying monthly, the payments will continue to come out of your account automatically to avoid the hassle of additional paperwork. Jet will send you a renewal notice, via email and standard mail, 90 days before the bond is set to end. The Dismantler Bond is renewable, and will remain on file with ODOT as long as payment is made to Jet prior to the bond’s expiration date. The DMV mandates the bond necessary for the Department’s protection, due to risks mentioned in ORS 822.137, such as the dismantler failing to obtain a certificate of sale for a major component part they purchased. If you do not follow rules and requirements set forth by ORS 822.110, the Department can file a claim on your bond. Why Does ODOT Require Dismantlers to File a Bond?Īuto dismantling bonds are enforced by the DMV Business Licensing Unit at ODOT for the financial protection of the Department. Jet gives you the option to have the bond form sent to you, which should be filed at the following address: An electronic submission of the bond is accepted by the Department as long as it is signed by both the principal and the surety company.įor new auto dismantling businesses, you may be sending in other paperwork and wish to send in the bond along with that. Oregon Dismantler Bond Cost TermĪn original bond needs to be filed with the Oregon Department of Transportation, DMV Business Licensing Unit, which Jet does for you. Jet provides the lowest rates to dismantlers that have been in business without any license infractions. ![]() Oregon Auto Dismantler Bonds are underwritten by Jet based on the personal credit score of the owner of the dismantling business and may require a review of the business financials. How Do I Get the Lowest Rate on a Dismantler Bond? Unlike other surety companies that work through brokers and agents, Jet cuts out the middleman allowing us to get you the Dismantler Bond quickly and efficiently with no hidden broker fees. Oregon Dismantler Bond PricingĪt Jet Insurance Company, pricing for the $100,000 Dismantler Bond starts at $63 per month, or $626 annually, if paid in full. If you are already one of the 181 active businesses that operates in the State of Oregon, you are required to maintain a Vehicle Dismantler Certificate and surety bond. This surety bond requirement replaces the previous bond limit of $10,000.Īnyone starting a business that buys, sells, or processes vehicles for the purpose of salvaging, dismantling, or destroying, will need a dismantler certificate. As of May 1, 2020, a $100,000 surety bond is required by the Oregon Department of Transportation (ODOT), Driver & Motor Vehicles Services (DMV) in order for motor vehicle dismantlers to get and maintain a license, commonly known as a Dismantler Certificate. ![]()
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