Who requires this bond: Oregon Department of Transportation Division 550 Capitol Street NE, Salem OR 97301.
What is the bond amount: Varies - the amount is determined by the Department of Transportation Division and it depends on the number of vehicles in the fleet.
What are the application requirements: A completed online application and qualifying credit, if the bond amount is over $25,000 financial statements may be required.
What is the cost: The premium rate for these is normally 1% of the bond amount.
Additional Information: The Oregon DOT civil code states that any commercial carriers with vehicles over 26,001 lbs are required to get this permit and post the bond. This bond guarantees that commercial carriers (trucking companies) will pay all necessary state taxes and fees. Commercial carriers need to be aware that Oregon does NOT participate in the IFTA (International Fuel Tax Agreement) so every company that trucks through Oregon must get proper credentials. All companies need to be sure to comply because Oregon DOT will heavily fine any company that violates this state regulation. For any further questions because call 877-654-2327 to speak with a live agent.
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