Description

The AZ Motor Vehicle Bond may be required when proof of vehicle ownership is not available. The bond limit must equal one and one half times the fair market value of the vehicle. Premiums start at $100 for the 3-year term, and may increase for bond limits above $6,700.

The bond protects the public and the AZ DOT from damages should a claim arise, but the bonded owner (you) may be responsible for reimbursing any claims on the bond. Click here to visit the Arizona DOT website for the application, or for more information. 

BOND NO. __________________

MOTOR VEHICLE BOND
__________________________________________
ARIZONA

KNOW ALL MEN BY THESE PRESENTS:
Preview
That we, _______________________________________________________________________________________________________________,
_________________________________________________________________________________________________________, as Principal and
________________________________________________________________, _____________________________________________________ a
corporation authorized to transact surety business in the State of Arizona, as Surety, are held and firmly bound unto the State of Arizona, Motor
Vehicle Division of the Arizona Highway Department, its officers and employees, for the use and benefit thereof and of any interested person as
below specified, hereinafter known as Obligee, in the penal sum of _______________________________________________ Dollars (________________), lawful
money of the United States of America, for the payment of which, well and truly to be made, we bind ourselves, our heirs, legal representatives,
successors and assigns, jointly and severally, firmly by these presents.
WHEREAS, The above bounden Principal has made application to the Division of Motor Vehicles of the Arizona Highway Department for the
issuance of an Arizona Certificate of Title for the following described vehicle, to wit:

Year Make Body Style Motor or I.D. No. Serial No.

WHEREAS, the Principal has not presented to the Division of Motor Vehicles the required supporting evidence of ownership of said vehicle; and
WHEREAS, the Division of Motor Vehicles has required the Principal to deposit with it a bond as a condition for the issuance of an Arizona
Certificate of Title for said vehicle;
NOW, THEREFORE, THE CONDITION OF THIS OBLIGATIONIS SUCH, That, if the Principal shall fully protect, indemnify and save harmless
the Division of Motor Vehicles of the Arizona Highway Department and any and all persons including purchasers or those requiring lien, and their
successors, against any and all claims, suits or losses on account of any defect in or undisclosed claim, lien or encumbrance of whatever nature upon
said vehicle or the right, title and interest of said Principal in or to said vehicle, then this obligation will be void; otherwise it will remain in full force
and effect.
PROVIDED, HOWEVER, That:
1. Any interested person may, in addition to any other remedy they may have, bring an action in their own name to recover hereon any damages
sustained by them by reason of any breach of the conditions for which this bond is deposited and in such action shall have and recover costs and
a reasonable attorney’s fee.

2. The aggregate liability of the Surety on this obligation to all such interested persons shall in no event exceed the penal sum of this bond.
3. This bond shall be returned and surrendered at the end of three years from the date hereof or prior thereto in the event the said vehicle is no
longer registered in the State of Arizona and the currently valid Certificate of Title is surrendered to the Motor Vehicle Division of the Arizona
Highway Department. And further provided, that such return or surrender of this bond shall not affect any liability theretofore incurred or
accrued.

SIGNED AND SEALED this ____ day of _____________________, ________.

Principal
By:

By:
Producer Name , Attorney-in-Fact

S-5791 (8-16)