Maryland Surety Bonds

Many Maryland Surety Bonds can be purchased instantly below. Simply search the table, enter the information and print your bond instantly. You may also contact us anytime at 913-318-4955 if you have questions or need assistance.

Common Maryland Surety Bonds

Maryland Home Improvement Contractor Bonds

Required to work on residential properties.

Maryland Vehicle Title Bonds

Required when ownership of a vehicle cannot be verified.

Maryland Auto Dealer Bonds

Protects buyers of vehicles from fraud.

Maryland Health Club Bonds

Protects members of health clubs for prepaid membership dues.

How Does a Maryland Surety Bond Work?

A Maryland Surety Bond is a three-party agreement between a principal, an obligee and a surety bond company. The principal is the party who is responsible for the bond obligation. This is typically a Maryland individual or company who needs a license, permit, or other guarantee running to the state. The party receiving the benefit of the bond is the Obligee. For many Maryland bonds, this is the state of Maryland or one of their departments. The Surety is a third-party bond company that is providing a financial guarantee of the principal's obligation on the bond. Should the principal default on their obligation, a party can make a claim against the bond.

This chart shows how Maryland Surety Bonds Work. Maryland flags at the top.

Should a claim be made on a Maryland surety bond, the Surety will investigate the claim. If they are required to pay the claim, they may seek reimbursement from the principal under the indemnity agreement. Maryland surety bonds provide a lot of value by allowing a damaged party to collect from a Surety without having to go through what could be a costly procedure of collecting from the principal. As a principal, Maryland surety bond claims should be avoided.

Frequently Asked Questions

What is a Maryland Surety Bond?

Maryland Surety Bonds are three party agreement between the applicant (principal), surety bond company (surety) and the obligee (often the state of Maryland). Maryland has many surety bond requirements including for many state issued licenses, court filings, probate proceedings, notaries and public construction projects.

How Much Does a Maryland Surety Bond Cost?

The cost of a Maryland surety bond depends on the type of obligation being guaranteed. Most applicants will pay between 1% - 3% for Maryland Surety Bonds.

Most license and permit bonds will cost 1% or less per year. Maryland contract bonds may cost 0.5% - 3%, depending on the qualifications of the applicant.

Where to Obtain a Maryland Surety Bond?

There are many licensed surety bond companies and bond brokers in Maryland. A broker needs to have a Maryland property and casualty license to sell surety bonds in the state. While many brokers have such licenses, customer should pick those that specialize in surety bonds.

Axcess Surety works with many of the largest bond companies in the country to get Maryland customers the best terms and conditions. We also have one of the largest selections of online Maryland surety bonds so that applicants can purchase Maryland bonds online.

How Do You Obtain a Maryland Surety Bond?

Many Maryland surety bonds can be purchased online. Axcess Surety has one of the largest selections of online Maryland surety bonds in the country. Many do not even require a credit check.

Many Maryland license and permit bonds, notary bonds and even probate bonds can be purchased online with a simple application and/or credit check. More complex surety bonds such as Maryland Performance Bonds and Payment Bonds may require an application and/or financial information.

What are the Requirements of a Maryland Surety Bond?

There are many different types of surety bonds required in Maryland. You can search the table above and click on the "Learn More" button to learn about specific Maryland surety bond requirements. The state also generally provides bond requirements with various licensing and contract paperwork.

You may also contact the bond experts at Axcess Surety anytime for assistance.

Can You Obtain a Maryland Surety Bond with Bad Credit?

Many of the Maryland Surety Bonds at Axcess Surety do not require a credit check and can be purchased by anyone. For bonds that do need a credit check, we partner with many of the nation's leading surety bond companies. Our surety experts can find a solution most almost any applicant.