Bond Amount
$50,000
Requiring Entity
State of California Department of Motor Vehicles
Underwriting Criteria
Personal credit check of all business owners.
Premium Rate(s)
1 Year - $500.00*
Who is Required to Secure this Bond
Any person or business who has a legitimate business need for obtaining DMV information can apply for a requestor code account. Only those who are issued a requestor code and are authorized to receive residence address information are required to secure the $50,000 surety bond. If the applicant does not request and is not issued a requester code permitting the applicant access to residence address information, only a filing fee of fifty dollars ($50) shall be required with the original application and each biennial renewal application (CVC Section 1810.2
Bond Requirement Specifics
The bond is required by the State of California Department of Motor Vehicles to protect against any fraudulent use of information obtained from the Department of Motor Vehicles. The Commercial Requestor will be responsible for any loss suffered by the Department of Motor Vehicles or any person who information has been misused
Who is protected Under this Bond
The bond protects the officers of the department and any other person who may suffer loss or damage as the result or failure of the principal to protect and secure information obtained from the Department of Motor Vehicles.
Underwriting Process
Each applicant must first complete and submit the application for a Commercial Requestor Account Bond, which contains all of the pertinent information regarding the business and business owners. Once the application is received, a routine examination of the business owner’s/applicant’s personal credit history will be performed to determine approval of the bond. Upon receipt of the application, our agency will be able to provide a response as to approval for the Commercial Requestor Account Bond within one business day. Once the application is approved, the bond will be executed and released to the applicant upon receipt of payment and original application.
What you Need to do Once you have your Bond
Once the Commercial Requestor Account Bond has been approved and released to the applicant’s care, it must be filed with the Department of Motor Vehicles along with the all related paperwork. The Department of Motor Vehicles will maintain the bond, which must remain effective at all times to prevent the suspension of access to residence information. If for any reason the bond is suspended or canceled, the licensee will not be able to access residence address information until the bond is restored.
Obligee Link
https://www.e-verifile.com/infopackets/ca_requestor_code_paperwok.pdf http://dmv.ca.gov/forms/inf/inf1106.pdf
* Please be advised that the quote you obtain for this bond may include a fee charged and retained by The Bond Exchange.