If you are engaged in the transportation of property in Virginia you are required under the Code of Virginia section 46.2-2122 to file a Virginia Transportation of Property Bond as a condition of licensure.
A surety bond protects the party requesting the bond, the Obligee, against any financial losses as a result of poor financial decisions, damages, unethical decisions, or a failure to follow state and local laws on the part of you, the Principal. The Virginia Transportation of Property Bond holds you accountable for your business decisions.
By possessing a Virginia Transportation of Property Bond, you are telling your Obligee that you can be trusted as a Principal and that you stand behind your business decisions.