To legally travel on Texas roads, those vehicles which exceed the legal size and weight limits established by the state must obtain a permit for oversized/overweight loads from the Texas Department of Motor Vehicles. In some cases, a surety bond must also be purchased and filed with the Texas DMV, so that any damages done to roadways by vehicles can be paid for by making a claim against that bond.
If such damages were to occur, the Texas Department of Transportation would make the claim against the surety bond, and the damages amount would then be paid to the Texas DOT. This type of bond is required before commercial vehicles can operate in several Texas counties, including Chambers, Harris, Montgomery, and Fort Bend.
Texas oversize permits cost
When this bond is required, the cost is often approvable without a credit check, and in such cases, the cost would be approximately 1% of the amount of the bond itself. For instance, if the permit bond has a face value amount of $15,000, the cost of that bond would be around $150. In other cases, the cost of the bond will be based on the carrier’s credit report history, as well as some other factors, such as business reliability.
Texas Oversize Permits
Who needs to purchase the Texas oversize overweight permits?
Generally speaking, the purchase of a Texas oversize bond is intended to ensure that the principal will adhere to the statutes set forth in Chapter 623.011 of the state Transportation Code. This section of code relates to pledging to the Texas Department of Transportation, that any damages caused to Texas state roads by the principal during vehicle operation will be paid for by the principal, via the bond which has been purchased.
In the event that the Texas DOT makes a claim against the bond, the surety company which issued the bond would be liable for making the payment to the DOT. After having paid that claim, the surety company would then be free to pursue the principal in order to recover the full amount of the damages which were paid to the Texas DOT. When you do purchase an oversize trucking bond, it is good for a period of one year and must be renewed at the end of that time frame.
Limitations of overweight bonds
There are a couple of limitations imposed on the usage of overweight bonds, the first one being that any bridges which are posted with weight limits cannot be crossed by a carrier, even when an overweight bond has been purchased if the total weight of the vehicle exceeds the posted allowable weight of the bridge. The lone exception to this is when the affected route provides the only reasonable way of reaching a destination.
The second limitation is that when you’re applying for your Texas oversize permits online, you can specify which counties your vehicles will be traveling through, and pay just for those counties. Roads that are part of the Interstate TX Highway System would be excluded from this payment transaction since those roads are maintained by the federal government, rather than any county or state agency.
Surety by NFP can help you get your bond today. In fact, we can assist with all types of Texas surety bonds.