Effective January 23, 2023, the required bond amount for the Michigan Uniform Vehicle Dealer Surety Bond will increase to $25,000. The surety bond requirement is mandated by Michigan Compiled Laws 257.248. These bonds are more commonly known as “Michigan auto dealer bonds” or Michigan motor vehicle dealer bonds.” As of December 28th, 2022, the Michigan Department of State confirmed they have not yet distributed this information to motor vehicle dealers currently licensed in the state. The new bond form is not yet available. How do I increase my Michigan auto dealer bond? The Michigan Departme ..read more

As a result of the COVID-19 pandemic and other economic setbacks, many industries continue to decline in growth. Despite these setbacks, some bonded industries have experienced consistent revenue growth.  Entrepreneurs, industry professionals, and career-builders should pay attention to the construction, real estate, and manufacturing industries as they continue to grow. Construction According to a 2022 U.S. Bureau of Labor Statistics article, the construction industry edged up 19,000 jobs in March and 4,000 above its February 2020 peak. This is the highest number of jobs the industry h ..read more

Consumer Protection Series For more information regarding surety bonds and consumer protection, follow along with our blog as we dive deeper into the types of businesses that should be bonded, why licensed contractors, companies and professionals purchase bonds, and more. 2022 brought with it a promising outlook for the professional renovations market. The strong housing market continues to encourage residential remodeling, which in turn sends house price appreciation skyrocketing across the country. Not only is new-home inventory low but post-pandemic trends also shape what people want and ..read more