Form HSMV86020 Surety Bond Motor Vehicle Dealer - Florida

Form HSMV86020 Surety Bond Motor Vehicle Dealer - Florida

What Is Form HSMV86020?

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.

FAQ

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.

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Form Details:

  • Released on August 1, 2011;
  • The latest edition provided by the Florida Department of Highway Safety and Motor Vehicles;
  • Easy to use and ready to print;
  • Quick to customize;
  • Compatible with most PDF-viewing applications;

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.

Download Form HSMV86020 Surety Bond Motor Vehicle Dealer - Florida

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