Maryland Motor Vehicle Repair Facility | $2,000 Motor Vehicle Repair Facility Surety Bond
Also known as: motor vehicle repair shop bond
Type of Bond
A motor vehicle repair facility bond, also known as an auto repair shop bond, is a type of surety bond required for businesses that provide repair services for automobiles, motorcycles, or other motor vehicles. It serves as a financial guarantee that the bonded repair facility will comply with applicable laws, regulations, and licensing requirements in the automotive repair industry. The purpose of the bond is to protect customers and ensure that repair facilities operate with integrity, professionalism, and in compliance with established guidelines. It provides assurance that the bonded facility will fulfill its obligations, perform repairs in a competent and timely manner, and handle customer vehicles responsibly. By obtaining the bond, the repair facility agrees to abide by the requirements set forth by the state licensing authorities or other regulatory bodies. This may include obtaining the necessary licenses, maintaining proper insurance coverage, adhering to industry standards, and providing accurate cost estimates and invoices to customers. If the repair facility fails to meet its obligations or violates the terms of the bond agreement, a claim can be filed against the bond. This allows customers or regulatory bodies to seek financial compensation for any damages, losses, or non-compliance issues resulting from the repair facility's actions. The bond amount for a motor vehicle repair facility bond is typically determined based on the requirements of the state or local jurisdiction. It may vary depending on factors such as the size of the facility, the number of mechanics employed, and the specific services offered. Motor vehicle repair facilities should consult with the relevant licensing authority or a surety bond provider to understand the specific bond requirements applicable to their operations and to obtain the necessary bond coverage.
Program
The price you'll pay for your $2,000 Motor Vehicle Repair Facility 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 $2,000 Motor Vehicle Repair Facility 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 $2,000 Motor Vehicle Repair Facility 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 Motor Vehicle Repair Facility Bond Application process.
The Maryland Motor Vehicle Repair Facility Bond amount is currently set at $2,000.
Obligee Information
An obligee is the entity that is requiring you to have the Motor Vehicle Repair Facility bond.
Obligee: Prince George's County Maryland
Street: 14735 Main St
State: Maryland
Zip: 20772
If you or your business needs help in obtaining a surety bond or commercial insurance give us a call!