Vehicles exceeding 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 (DMV). In some cases, a surety bond must also be purchased and filed with the Texas DMV, so that any roadway damages caused by oversized vehicles can be paid for by making a claim against that bond.
If such damages were to occur, the Texas Department of Transportation (DOT) would make the claim against the surety bond and the damages amount would 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.
How much do they 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 Texas 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 purchased.
In the event that the Texas DOT makes a claim against the bond, the surety company that 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 cost of damages. When you do purchase an oversize trucking bond, it is valid for a period of one year and must be renewed at the end of that time frame.
Are there any limitations on overweight bonds?
There are a couple of limitations imposed on the usage of overweight bonds.
The first is that any bridges with posted 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 truck is prohibited from crossing. The lone exception 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, not a county or state agency.
NFP can help you get your bond today, in Texas or anywhere you do business.