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Form 12 Motor Dealer

Form 12 Motor Dealer

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Instructions and help about Form 12 Motor Dealer

over the last couple of years with the downturn in the economy I've been receiving a lot of calls from my surety clients with questions about Arizona's vehicle dealer bonds and in the state of Arizona in order for a used and new car dealer to lawfully operate they need to have on file with the Arizona Department of Transportation what's called a vehicle dealer bond and it's interesting because in the state of Arizona as opposed to a lot of other jurisdictions the scope of coverage under an Arizona vehicle dealer bond is really narrow in other jurisdictions you'll see that the coverage is any bad acts perpetrated by the car dealer well here in Arizona it's really narrow it's only limited to two instances it's one where the dealer fails to deliver a lawful title to the purchaser as part of the transaction and that really arises when a dealer buys a car at the auction and fails to pay for the car before selling it to the unsuspecting purchaser another instance may be where the dealer goes

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