What is a Wisconsin Electronic Title and/or Registration Processing Bond?
An Electronic Title and/or Registration Processing Bond is a type of surety bond required by the Division of Motor Vehicles, Department of Transportation, State of Wisconsin for participating agents as principals to legally transact business in the State of Wisconsin.
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Why is a Wisconsin Registration Service Bond Required?
The condition of this obligation is that the bonded principal and the Division of Motor Vehicles entered into a contract for the operation of a Delegated Office representing the Division for the purpose of processing electronic title and/or registration transactions under the terms and conditions of the contract.
The principal and surety are obligated to indemnify the Wisconsin Division of Motor Vehicles against claims, losses, damages, judgments, liabilities or similar costs and expense arising from acts or omissions of the bonded principal during the term of the bond.
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