A Oversize and Overweight Haulers surety bond is a license and permit surety bond that guarantees the payment of taxes, fees, penalties and interest due to various states and the federal government by motor carriers (trucking companies) operating certain motor vehicles on public highways. Typically there are size and weight requirements to be considered oversize and overweight and the vehicles must be commercial in nature. The amounts vary by jurisdiction and depend on the number of vehicles in a fleet, the weight of the vehicles and the method used to report the tax. The bond guarantees payment of these taxes whose revenues are used for highway construction and maintenance projects.
These bonds are also known as Heavy Vehicle Use Tax Surety Bond.