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
*See Colorado Revised Statutes (C.R.S.) 12-6-111 and 12-6-112.
Bonds are underwritten by Tokio Marine HCC Surety Group.