Alaska Surety Agreement
Description
How to fill out Surety Agreement?
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FAQ
A surety bond is a legally binding contract that ensures obligations are met or in the case of failure, that recompense will be paid to cover the missed obligations.
How to obtain a bonded title in AlaskaSecure an appraisal of the current market value of the vehicle.Obtain a three-year non-cancelable surety bond for 1.5 times the appraised value of the vehicle using the designated bond form.Complete the Affidavit of Ownership.More items...
Collection Agency Surety Bond Collection agencies may do business in Alaska by posting a $5,000 surety bond to the AK Department of Commerce, Community and Economic Development (DCCED) along with their license application.
Being bonded means that a bonding company has secured money that is available to the consumer in the event they file a claim against the company. The secured money is in the control of the state, a bond, and not under the control of the company.
In order to file a Surety Bond in Alaska, the vehicle must be in the State of Alaska and the appraisal must have been completed in Alaska. Appraisal Requirements: Appraisal of the retail value (not wholesale or trade-in value) must be submitted on company letterhead.
Alaska Surety Bonds Overview The state of Alaska frequently requires businesses and individuals who want to obtain a business or professional license to obtain a surety bond. The bond functions as a type of guarantee that the bonded party will comply with state laws.
The Alaska Lieutenant Governor's office requires notaries public to provide a $2,500 surety bond before they legally perform their duties within the state.