Maryland Auto Dealer | $15,000 Auto Dealer Surety Bond
Also known as: auto dealer bond
Type of Bond
A Maryland auto dealer bond is a type of surety bond that is required for individuals or businesses involved in the business of buying, selling, or dealing with motor vehicles in the state of Maryland. It serves as a financial guarantee that the bonded party will comply with the laws, regulations, and licensing requirements governing auto dealerships. The purpose of the bond is to protect consumers and the state by ensuring that auto dealers operate with honesty, integrity, and in compliance with applicable laws. It provides assurance that the bonded party will fulfill their obligations, conduct business ethically, and handle transactions in accordance with the rules and regulations set by the Maryland Motor Vehicle Administration (MVA). By obtaining the bond, the auto dealer agrees to abide by the requirements set forth by the MVA or other relevant authorities. This may include obtaining the necessary licenses, maintaining a proper place of business, accurately disclosing vehicle information, providing valid titles and registrations, and handling funds in a responsible manner. If the auto dealer fails to meet their obligations or violates the terms of the bond agreement, a claim can be filed against the bond. This allows consumers or the MVA to seek financial compensation for any damages, losses, or non-compliance issues incurred as a result of the auto dealer's actions or misconduct. The bond amount for a Maryland auto dealer bond is typically determined based on the number of vehicles sold or the annual sales volume of the dealership. Auto dealers should consult with the Maryland Motor Vehicle Administration or a surety bond provider to understand the specific bond amount and requirements applicable to their licensing and regulatory obligations.
Program
The price you'll pay for your $15,000 Auto Dealer Bond is generally based on your personal credit score. Start a free online quote by just completing a simple app or by calling 888-518-8011. Our experts will walk you through a very simple process. Compare our quote as the very lowest price, and then you're good to go! It's that simple!
We provide all types of $15,000 Auto Dealer Bonds. Worldwide Insurance Specialists, Inc. has "in house" underwriting authority with the largest and best Surety (Insurance) companies in the world including, Great American, Liberty Mutual, Philadelphia, Travelers, and CNA Surety. All of these surety bond companies are A-rated under the AM Best credit rating system, and T-listed with the U.S. Department of Treasury. This guarantees that by getting bonded through us, you will be provided the backing of these highly trustworthy and reliable companies.
Application
The application process for a $15,000 Auto Dealer Bonds is easy! Many Bonds are INSTANT ISSUE! Easy Application, no underwriting, no credit check, no GIA required. Our NEW Desktop underwriting program provides you with a rapid approval process used to determine the degree of risk that you (the Principle) complete a project or obligation. Non-INSTANT ISSUE quotes can also get instantly approved. Submissions require very little information from you. Once you file and sign an indemnity agreement, we issue the Bond. It's that simple! We quote and issue Surety Bonds of every type and will help you through the entire process. These applications only require basic information about your business, bond type, and ownership structure. Once the application is complete, we submit to the insurance company (Surety) who will then issue your bond. Don't pay too much! Get your Bond Fast, and Easy with the best price! Click here to start the Auto Dealer Bond Application process.
The Maryland Auto Dealer Bond amount is currently set at $15,000.
Obligee Information
An obligee is the entity that is requiring you to have the Auto Dealer bond.
Obligee: Motor Vehicle Administration
Street: 6601 Richie Hwy Ne
State: Maryland
Zip: 21062
If you or your business needs help in obtaining a surety bond or commercial insurance give us a call!