MS Designated Agent Motor Vehicle Dealer Bond
$15,000 MS Dealer Bond, Just $150, No Credit Check
General Information
| Bond Amount | Term | Price | Credit Check Required |
|---|---|---|---|
| $15,000 | 1 Year | $150 | No |
Why Do I Need a Mississippi Designated Agent Motor Vehicle Dealer Bond?
Every licensed motor vehicle dealer in Mississippi must file a $15,000 Designated Agent Motor Vehicle Dealer Bond with the Mississippi Department of Revenue (DOR) before being appointed as a Designated Agent. This surety bond is required under Mississippi Code Section 63-21-13 and the Mississippi Motor Vehicle Title Act. It guarantees that dealers and designated agents will properly perform their titling duties—accurately processing title and registration paperwork, collecting and remitting fees and taxes, and complying with all state laws—protecting the State and the public from financial loss.
The original signed and sealed bond, with a valid Power of Attorney attached, must be submitted with your dealer license application. Copies are not accepted.
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About Mississippi Designated Agents
A Designated Agent is authorized by the Mississippi Department of Revenue to assign and issue titles for motor vehicles and manufactured homes on the State's behalf. Under Section 63-21-13(3), the DOR may appoint licensed dealers—and, in some cases, persons other than dealers—as designated agents, provided each applicant files a surety bond with a surety company authorized to do business in Mississippi.
Dealers required to be licensed and bonded include franchise/new dealers, used (auto) dealers, motorcycle dealers, trailer dealers, wholesale dealers, heavy truck dealers, vehicle manufacturers, and limited dealers. The $15,000 Designated Agent Bond applies to motor vehicle dealers seeking designated agent authority.
Bond Details at a Glance
- Bond Type: Bond of Designated Agent (for Motor Vehicle Dealers Only), Form 78-905-10
- Bond Amount: $15,000
- Term: 1 Year (continuous, renewed annually)
- Price: $150 total
- Credit Check: Not required
- Obligee: Mississippi Department of Revenue
- Obligee Address: 500 Clinton Center Drive, Clinton, MS 39056
- Statutory Authority: Miss. Code Ann. § 63-21-13
How to Get Licensed as a Mississippi Motor Vehicle Dealer
To apply for a NEW or RENEWAL motor vehicle dealer license, applicants submit a completed Motor Vehicle Dealer License packet to the Mississippi Department of Revenue, Motor Vehicle Services. Requirements typically include the dealer application, proof of an established place of business, liability insurance, a Mississippi sales tax number, and the original $15,000 Designated Agent surety bond.
Applicants must also complete the 8-hour dealer training conducted by the Mississippi Independent Auto Dealers Association (MIADA) and attach the Certificate of Completion (obtained within the previous 12 months) to the application. Once licensed, designated agents can register for the DOR's Motor Vehicle e-Services to submit title applications and manage and renew dealer licenses online.
Frequently Asked Questions
What is the bond used for?
The Department of Revenue requires the bond to guarantee that designated agents and dealers comply with the Mississippi Motor Vehicle Title Act, process titles accurately, and remit required fees and taxes. If an agent fails to meet these obligations, a claim may be filed against the bond.
How fast will I receive my bond?
Immediately. Your bond is emailed to you and available to download within minutes after payment.
Does the DOR accept digital copies?
No. The Mississippi Department of Revenue requires the original signed and sealed bond, with a valid Power of Attorney attached, submitted with your dealer license application.
Is a credit check required?
No. BondAbility issues this bond with no application and no credit check.
Is the bond refundable if my application is denied?
No. Bond premiums are fully earned upon issuance.