Alaska Motor Vehicle Dealers - Buyers Agent Surety Bond
**Pursuant to HB36, we encourage all active motor vehicle dealers in the State of Alaska to submit their new bond for $100,000 and proof of insurance by September 1st, 2021 in order to avoid dealer license cancellation.**
The Department of Administration, Division of Motor Vehicles requires auto dealers and buyers agents to provide an Alaska Motor Vehicle Dealers and Buyers Agent Surety Bond as part of the registration process. The Surety Bond amount required (pursuant to HB36 and effective September 1, 2021) is $100,000 or $25,000 for dealers who only sell motorcycles. These bonds are subject to underwriting, the process where the surety company reviews personal credit report(s) of the applicant(s) in order to determine acceptability and to establish the rate. Typically, applicants with acceptable credit can expect to pay 1% of the required bond amount.
For up to date requirements and information, visit the AK DMV website where you can download the required AK Motor Vehicle Dealer application.
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If you are a dealer of Motorcycles only, apply for your $25,000 Motorcycle Dealer License Bond.
