Overview

Colorado licensing includes a requirement for licensees to post funds to provide some recovery in the event that misconduct results in harm to others.* Motor vehicle dealers must post $50,000 and salespersons are required to post $15,000.

To help meet those requirements, CADA provides the following surety bonds to both dealers and their salespersons:

The benefits of using CADA’s bonds include:

  • 24- to 48-hour turnaround often available
  • E-mail bond delivery for faster turnaround
  • Competitive pricing
  • Access to a designated CADA representative
  • Dealership invoicing of bonds and renewals (salesperson bonds and renewals can be separately invoiced)
  • Salesperson bonds can be obtained after passing the state licensing exam, which can be taken at CADA Headquarters

For more information on CADA’s Bonds, please contact:

Khorrie Luther, Business Manager
303.457.5122 (office)
khorrie.luther@colorado.auto

*See Colorado Revised Statutes (C.R.S.) 12-6-111 and 12-6-112.

Bonds are underwritten by Tokio Marine HCC Surety Group.

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