Waste Tire Hauler Bond

Not every state requires a waste tire hauler bond as part of the licensing procedure, but many do. You should check with your state authorities before you begin your licensing procedure.

Furthermore, every state has a different definition of a waste tire hauler. For example, in Louisiana anyone who transports 20 waste tires or more (at any one time) is required to get licensed, whereas the numbers in Iowa and California are 40 and 10, respectively.

The cost of getting bonded is dependent on several factors about you and your business. To calculate it, you first need to know the total value of the bond required from you. Here too, it is each state which determines the total value of the surety bond.

This total value is not the sum required from waste tire transporters, but is the maximum penalty that can be imposed on them if they are found to be in violation. In most states, the total value s between $10,000 and $20,000.

Waste tire haulers only pay a few percentages of this total value, known as the bond premium. The premium is determined by the surety underwriter after an evaluation of your credit report and sometimes finances. Of these, the applicant’s credit score is considered the most important. If you have good credit, your premiums will likely be between 1% and 4% of the total value of the bond. Bond premiums are usually paid annually or biannually in order for the bond to remain in force.

Here are some examples of waste tire hauler bond amounts and premiums in different states.

>Surety Bond Name

If you wish to learn more about surety bond costs, go to our What Does a Surety Bond Cost? page, where you can also find tips on reducing your premium.

Yes, you can. Bad credit applicants are subject to higher premiums, because they are considered high-risk by bonding companies. This is why they also pay higher premiums, but even so they will rarely exceed 10%.

If you apply through our bad credit surety bonds program, you’re guaranteed to get the lowest premium possible. Our surety bond experts offer personalized advice on strengthening your application, which takes into account your strengths.

The only applicants that will have their application rejected are those with open bankruptcies or unpaid child support payments.

With us you can apply online today and get a free quote which doesn’t oblige you to continue the application process.

If you choose to proceed, we will be in touch with you to help you throughout the underwriting process, and help you meet all requirements of the bonding company. You may be asked to present business and personal financial statements and, as industry standard, sign an indemnity agreement.

Processing times can vary, but usually we can issue your bond in as little as 1-2 business days.

A bond claim can happen if you violate any of the state statutes and regulations related to your industry. This is why it’s essential to stay up-to-date with all of them. The waste tire transportation industry is highly regulated, so you should check with your state agency to make sure you are logging your trips properly, transporting to only authorized facilities, and everything else that might be required by state law.

In case you are threatened by a claim, it’s best to try and work it out with the claimant outside of court. A settlement will almost always be less costly than a court case. Plus, bond claims can make it very hard for you to get bonded next time.