The National Highway Traffic Safety Administration, Department of Transportation requires that any vehicle being imported into the United States meet motor vehicle safety and bumper standards within 120 days. A registered importer (RI) must submit a package to the Department of Transportation prior to the vehicle importation.
Prior to the importation, the RI will need to determine if the vehicle has an eligibility number, and if it does not, the vehicle must go through a petition process. The RI must also determine if the vehicle is on the hi-theft vehicle list, and if so, a list of necessary parts must be provided. If the RI is not the importer on record, a signed contract is required.
The surety bond must be in the amount of 150% of the vehicles value (based on the transaction value- price paid to the seller of the vehicle). If the vehicle value is less than the transaction value, the vehicle may be seized by the Department.
The surety bond guarantees the following: The nonconforming vehicle will meet the federal motor vehicle safety and bumper standards after it has had the necessary work done.
It ensures that the vehicle is not released to any person until either a bond release letter is received from NHTSA or that the vehicle is held for at least 30 days after the conformity package has been sent to NHTSA.
That the RI will keep custody of the vehicle if NHTSA has given written notice to inspect the vehicle for reasons such as they believe the certification to be false or it contains a misrepresentation.
And if necessary, the RI will turn the vehicle over the vehicle over to NHTSA or Customs for export for violations.
The premium that you pay for a DOT Conformance Surety Bond varies and is based on the value of the vehicle x 150% and credit.
The imported vehicle should be brought to safety and bumper standards within 120 days of entry.
Check out our FAQ page or What’s a Surety Bond? page. Should you need or choose to buy a surety bond, buy from us. SuretyGroup.com has been underwriting surety bonds throughout the U.S. for more than 35 years. When you work with us, you enjoy the unique benefit of dealing with a team of highly experienced surety agents with in-house underwriting authority. This allows you to receive competitive, low rates, quick approvals, and immediate bond delivery. In most cases, your bond will be delivered within 24 hours after you apply for it.
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