Overview of Superheavy or Oversize Permit Bond Requirements
Applicants for a superheavy or oversize transport permit in Texas must obtain a bond in the amount of $10,000 before they are issued their permit.
The bond’s function is to guarantee that permit holders will comply with the requirements of the Transportation Code that apply to oversize or overweight vehicles. The bond further guarantees that if any damage is caused to highways under the jurisdiction of the Texas Transportation Commission due to the operation of such equipment, the bond can be used to cover such damages.
If such damage is caused by a vehicle operator, the Department may file a claim against their bond to secure compensation. Under the terms of the bond agreement, the surety will investigate the situation and extend compensation as needed, up to the full amount of the bond.
Never applied for a bond before? See our ‘What is a surety bond’ guide for a clear and straightforward explanation of how bonds work, and why you need one!
See below to learn more about the superheavy or oversize permit bond, how much it costs to get bonded, and how to apply.
Do you have any unanswered questions about this bond? Give us a call at 866.450.3412, and we’ll gladly provide you with the answers!
Superheavy or Oversize Permit Bond Cost
The amount of this bond is $10,000. To get bonded, permit applicants must pay a surety bond premium. The premium is a percentage of the whole bond amount and is determined by the surety for every individual applicant.
To determine an applicant’s bond rate, the surety looks at their personal credit score. It may also consider their financial statements, the status of their assets and liquidity, and more. Primarily, though, the surety looks at credit score, and the higher the credit score - the lower the bond cost is.
For a quick estimate of the cost of your bond, try our bond calculator or have a look at the table below. You can also request a precise quote on your bond free of charge by completing our bond form!
Surety Bond Cost Calculator
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|Surety bond amount||Above 700||Between 650-699||Between 600-649||Below 599|
|Superheavy or Oversize Permit Bond||$10,000||$100-$150||$100-$250||$250-$500||$500-$750|
Bad Credit Bond Program
It may be difficult to get a bond with a low credit score with some sureties. We can provide bonds to all applicants, regardless of their credit score.
We’ve created our Bad Credit Program in order to help applicants with low credit get bonded. Thanks to our surety partners, getting a bond under this program is as easy as it is for applicants with higher scores.
Rates under this program are slightly higher than they are for other applicants. This is so because sureties assume a greater risk when issuing bonds to applicants with low or no credit, and need to take greater precaution. Bond rates are not forever, though! By improving their credit score, every applicant can get increasingly better bond rates over time.
Follow the link to the bad credit program page to learn more about it and to request a quote!
Claims Against Your Bond
The bond form for the superheavy or oversize bond in Texas states that it is conditioned upon the permittee’s compliance with the state Transportation Code. In particular, the bond is conditioned to guarantee compensation for damages caused to highways or bridges by such types of transportation.
Chapter 623 of the Code, in particular, states that this applies to instances in which a permit is issued for a greater weight “than the maximum weights authorized by Subchapter B of Chapter 621 or Section 621.301 or 623.321”. It also states that the bond can be used for vehicles that are “in violation of Section 623.323”.
If such violations and damages are found to have occurred, the Texas Department of Transportation can file a claim against the bond to retrieve compensation for such damages. Compensation extended by the surety under such a claim can be as high as the full amount of the bond.
When a surety covers a claim, this ends the claims process but it does not end a bonded party’s liability. The bonded permittee is required to reimburse the surety in full for any compensation it extends under a bond claim. That’s why it is important that permit holders comply in full with all the conditions of their bond and the requirements of the Transportation Code.
Get Bonded Here!
To get started with your bond application or to simply request a free quote, fill in and submit our bond form. You will shortly be contacted by one of our bond experts who will provide you with your quote and additional information about getting bonded.
It takes up to two working days for your bond to be issued once your complete application is received. After that, we will send you your bond via email and standard mail.
To find out more about the bonding requirements for this type of permit in Texas, call us at 866.450.3412!