This is a legal form that was released by the Florida Department of Highway Safety and Motor Vehicles - a government authority operating within Florida. As of today, no separate filing guidelines for the form are provided by the issuing department.
Q: What is Form HSMV86020?
A: Form HSMV86020 is a surety bond for motor vehicle dealers in Florida.
Q: Why do I need Form HSMV86020?
A: You need Form HSMV86020 if you want to become a motor vehicle dealer in Florida as it is a requirement for obtaining a dealer license.
Q: What is a surety bond?
A: A surety bond is a type of financial guarantee that ensures the dealer's compliance with laws and regulations governing motor vehicle sales.
Q: How much does Form HSMV86020 cost?
A: The cost of Form HSMV86020 varies depending on the dealer's financial standing and credit history. It is recommended to contact a surety bond provider for an accurate quote.
Q: Are there any alternatives to Form HSMV86020?
A: Yes, instead of a surety bond, you can also choose to deposit cash or securities with the DHSMV as an alternative to meet the financial responsibility requirement.
Q: How long is Form HSMV86020 valid?
A: Form HSMV86020 is valid for one year from the effective date.
Q: Can I cancel Form HSMV86020?
A: Yes, you can cancel Form HSMV86020 by submitting a written notice of cancellation to the surety bond provider.
Q: What happens if I don't have Form HSMV86020?
A: If you don't have Form HSMV86020 or an alternative financial responsibility, you will not be able to obtain a motor vehicle dealer license in Florida.
Q: Can I transfer Form HSMV86020 to another person?
A: No, Form HSMV86020 is non-transferable and can only be used by the original bondholder.
Download a fillable version of Form HSMV86020 by clicking the link below or browse more documents and templates provided by the Florida Department of Highway Safety and Motor Vehicles.