A title bond is a certificate used to help verify ownership of a motor vehicle.
Isn’t that what the original title is for?
Ideally, yes. But there are plenty of occasions in which someone needs to buy a car that doesn’t have a title. For instance, if you buy a classic car you plan on restoring, or a used car that doesn’t have a title, you’ll need some way to verify that you own the car, so you can buy insurance and drive the car legally.
What is a Title bond Good For?
The real benefit of a bonded title is the ability to get you on the road legally. If you have a bonded title, you’ll be able to buy insurance and register a vehicle, even when there is no original title available. It can be frustrating to buy a used car, only to find that obtaining this type of title is a much more complex problem than anticipated.
How Do You Get a Title bond?
Securing a title bond can be tricky if you’re trying to do it yourself. It requires seeking out records from the MVD and tracking down certain types of documentation that could be tough to find.
How Can Someone Make the Process Easier?
At Southwest Bonds, we are experts in helping people secure title bonds. For a small fee and a deposit, we take care of all the complicated stuff. That means our representatives will write letters on your behalf, find the needed records and handle every aspect to make the process easier for you.
How Long Does It Take to Get a Bonded Title?
Sometimes, a bonded title might be finalized in a matter of hours. However, don’t be surprised if takes up to a few weeks for everything to go through properly. Sometimes, outside circumstances require more research or documentation.
How do You Get Started?
If you think you might need a bonded title, or want more information about what a title bond actually is, contact Southwest Bonds today. We’ll help you navigate the complicated process of securing the title. Our experts have extensive experience with this type of bond.
Once you schedule an appointment with us, make sure you bring in all the paperwork you can find associated with your vehicle. This will make it easier for us to make the process faster and smoother. We’ll inspect all your documents to determine whether or not a bonded title is the right choice for you.
Do you want to set up an appointment? Give us a call today at 623-974-6453. If you need to get the process handled quickly and efficiently, don’t hesitate to call the best! We’ll take care of you.
ERISA stands for Employee Retirement Income Security Act. The legislation was signed into law back in the 1970s to prevent fraud. The law requires anyone who handles someone’s retirement funds to be bonded.
The bonding laws are intended to protect retirement and employee benefit plans from becoming victim to fraudulent activity. That means a fidelity bond must be in place to protect the finds.
An official who handles such plans is required to be bonded for at least ten-percent of the amount of the funds that person handles. Fund managers can have a maximum bond amount of $1, 000, 000.
What Does an ERISA Bond Entitle Someone to Do?
Bondholders have a lot of responsibility and authority when it comes to handling benefit plans and funds.
Transfer: Bondholders have the power to transfer funds from the plan, including themselves or a third party or entity.
Disbursements: People with ERISA bonds are also able to authorize and disburse payments on behalf of the benefit owner.
Supervise: A bondholder will often act as the supervisor and make decisions about account activity.
What Happens if Someone Fails to Maintain Their Bond?
The important question is not only what is an ERISA bond, but what could happen if someone doesn’t have one? There’s no a specific fine or monetary penalty tied to not having the right bonding coverage. However, organizationally, not having the bonding could be disastrous.
For instance, fiduciaries can be held personally liable under federal ERISA guidelines for any loss of a plan that wasn’t covered under a bond.
Who Issues ERISA Bond?
Bonds are required to through a reinsurer or a surety that is approved by the federal government. The fiduciary is not allowed to have any sort of financial interest in the surety, reinsurer or the broker who provided the bond.
Are Any Benefit Plans Exempt?
While the vast majority of benefit plans are subject to ERISA laws, there are a few exemptions. Some examples would include government plans, or certain types of church benefit plans. Also, some plans that are only maintained to comply with federal unemployment or workers’ compensation laws are exempt from federal bonding regulations.
What is an ERISA Bond: How Do You Get One?
If you need ERISA bonding, contact Southwest Bonds today at 623-974-6453. Our qualified experts can help you get the kind of bonding you need to take your career to the next level.
We are experts in virtually every type of bond. When you need someone you can trust to get the proper bonding, be sure to contact us. We have the knowledge and tools to make sure your experience is pleasant and effective. Trust Southwest Bonds for service that leads the industry.