South Carolina MV 88 Bond Undertaking & Approval/Order is a legal document issued by the South Carolina Department of Motor Vehicles (DMV) to allow a motor vehicle dealer to obtain a surety bond and be licensed by the DMV. This document is sometimes referred to as a dealer bond, motor vehicle bond, or DMV bond. This bond is required to be in place by the DMV before a motor vehicle dealer is allowed to obtain a dealer license or renew an existing license. The bond amount required by the DMV is typically based on the number of vehicles the dealer is authorized to sell. The bond guarantees that the dealer will comply with all applicable South Carolina motor vehicle laws and regulations. There are two types of South Carolina MV 88 Bond Undertaking & Approval/Order: the Standard Bond and the Limited Bond. The Standard Bond covers all liabilities associated with the sale of motor vehicles, while the Limited Bond only covers liabilities related to the sale of certain types of vehicles.
South Carolina MV 88 Bond Undertaking & Approval/Order
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