Transportation
Turnpike Toll Bond
A turnpike toll bond is a bond a toll authority requires before it will open a postpaid (billed) E-ZPass or toll account for a trucking company or fleet.
- Required by
- State turnpike and toll authorities (for example, the Ohio Turnpike Commission)
- Bond amount
- Set by whoever requires the bond. We confirm it.
What this bond guarantees
The bond promises the turnpike or toll authority (the obligee) that the account holder will pay its toll invoices. If the company falls behind, the authority claims the unpaid tolls from the surety, and the company repays the surety.
Who needs it
- Trucking companies and motor carriers
- Bus and fleet operators
- Businesses with postpaid commercial toll accounts
What the underwriter looks at
- Monthly toll volume
- Business credit and payment history
- Years in operation
Requirements vary by state and by who asks for the bond. Send us the request you received and we will confirm exactly what it calls for.
Common questions
How much bond will I need?
Each authority sets its own rule, usually tied to a few months of tolls. The Ohio Turnpike, for example, requires three months' tolls or $3,000, whichever is greater, for a postpaid account.
Do I need a bond for a prepaid account?
Usually not. The bond is for postpaid accounts where the authority bills you after the fact.
What happens if my bond is too small?
The authority can suspend the account for insufficient bond coverage, which turns off your transponders.