If you are engaged as a retailer of recreational or used motor vehicles in Mississippi you are required by the State of Mississippi Department of Revenue to file a Mississippi Recreational and Used Motor Vehicle Bond for Motor Vehicles Bond as a condition of licensure.
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 Mississippi Recreational and Used Motor Vehicle Bond holds you accountable for your business decisions.
By possessing a Mississippi Recreational and Used Motor Vehicle Bond, you are telling your Obligee that you can be trusted as a Principal and that you stand behind your business decisions.