District of Columbia Tow Truck Business Bond

A Tow Truck Business Bond is a type of surety bond required by District of Columbia Code Section 47-2850.01 and the implementing regulations, 16 DCMR Chapter 4 et seq. for those desiring to engage in the business of tow truck services. The surety bond must be be issued in a coverage amount of $25,000 and executed and filed for the license period, ending not more than two years after the effective date of the bond. The purpose of the tow truck surety bond is to reimburse the District of Columbia and any person suffering financial damages as a result of the bonded principal's violation of any law or regulation in the District of Columbia relating to the practice of operating the tow truck business.