Franchise Motor Vehicle Dealer Bond
$25,000 franchise dealer surety — FLHSMV
Franchised motor vehicle dealers file a $25,000 surety bond or irrevocable letter of credit with FLHSMV on Form HSMV 86020 under Fla. Stat. § 320.27(10)(a).
You are applying for this bond — opens in a new window.
The Florida franchise motor vehicle dealer bond is the $25,000 surety or letter of credit franchised dealers file with FLHSMV under Fla. Stat. § 320.27(10)(a) on Form HSMV 86020.
Amount, premium, term, and the authority that requires this filing.
Franchised dealers licensed under Fla. Stat. § 320.27(1)(c)1 — not independent or used-only dealers.
FLHSMV requires the $25,000 surety on Form HSMV 86020 as part of the franchise dealer license package.
You hold or are applying for a franchised (VF) dealer license — not independent/used (VI).
Use Apply on this page for the Florida FRANCHISE Motor Vehicle Dealer Propeller class.
Submit the executed bond with your dealer license application or renewal. Franchise licenses expire December 31 (§ 320.27(4)(a)).
Fla. Stat. § 320.27(10)(a) requires $25,000 for motor vehicle dealers, including franchise dealers.
Form HSMV 86020.
The penal sum is the same $25,000, but franchise dealers are licensed under § 320.27(1)(c)1 and use the FRANCHISE Propeller class — not the USED class.
Also need coverage?
Need more than a bond? Through the same agency desk we can discuss commercial coverage for the whole business.