Under 625 ILCS, Title 5, Chapter 3, Section 816, you will be required to post an Illinois Second Division Motor Vehicles Installment (flat weight) Bond to ensure that taxes are collected properly. Please refer to the Office of the Illinois Secretary of State for more information regarding your required bond amount.
A surety bond protects the party requesting the bond, the Obligee, against any financial losses as a result of poor financial decisions, damages, unethical decisions, or a failure to follow state and local laws on the part of you, the Principal. The Illinois Second Division Motor Vehicles Installment (flat weight) Bond holds you accountable for your business decisions.
By possessing an Illinois Second Division Motor Vehicles Installment (flat weight) Bond, you are telling your Obligee that you can be trusted as a Principal and that you stand behind your business decisions.