Highway use tax bond cost
Oregon highway tax use bonds are required by the Oregon Department of Transportation Motor Carrier Transportation Division. The amount of this bond will vary depending on the number of vehicles the company uses. The bond amount can range between $2,000 and $10,000. The bond amounts are calculated as follows:
- $2,000 bond amount for 1 vehicle
- Add $375 to the initial $2,000 bond amount for each individual vehicle between 2 and 5 vehicles.
- Add $250 to the initial $2,000 bond amount for each individual vehicle between 6 and 10 vehicles.
- Add $125 to the initial $2,000 bond amount for each individual vehicle exceeding 10 vehicles.
If the bond amount is less than $2,500, we can issue these bonds instantly for just $100! For amounts between $2,500 and $10,000 the cost of the bond will be subject to underwriting.
Why this bond
Highway use tax bonds in Oregon ensure the safety of all goods and passengers carried on these motor vehicles. This bond also makes certain that principals (transportation companies) follow all of the rules and regulations found in the Oregon Revised Statutes Chapters 825 and 826.
Highway use tax bond details
Oregon motor carrier bonds are continuous until canceled by the surety. If the surety does decide to cancel this bond, 30 days of notice must be given to the Oregon Department of Transportation Motor Carrier Transportation Division prior to cancellation.
Apply for your surety bond
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