Maryland Title Service Agent Bond
Get bonded. Get licensed! Apply for this surety bond today!
What is a Title Service Agent Bond?
Under the Transportation Article of the Annotated Code of Maryland, all persons intending to become title service agents must secure a license from the Motor Vehicle Administration of the Maryland Department of Transportation.
One of the most important requirements of the said license is a surety bond.
The bond will serve as a financial guarantee that any person who will be harmed by the prohibited acts committed by the title service agent will be justly compensated.
As part of the bond’s condition, the licensee will perform his or her duties in accordance with the applicable laws and rules.
This includes transporting to and from the Motor Vehicle Administration of the Maryland Department of Transportation the following:
- Motor vehicle certificates of title
- Driver’s licenses
- Certified copies of records
- Other related documents
What is the Title Service Agent Bond amount?
The bond amount is $25,000.
If you have a stellar credit score, you will be eligible for a low bond premium, or just 1% of the bond!
Do you want to know your bond premium right now? Get your FREE SURETY BOND QUOTE RIGHT HERE!
How can I get a Title Service Agent Bond?
You can easily get this surety bond from us! We will guide you through the entire process. We’ll make sure that you will understand what you are getting into.
Here’s how to do get bonded:
- You have to send an application to us. If you are ready to do that now, you may APPLY HERE!
- After we have received your application, we will ask you to submit the necessary information needed for the underwriting process. These are the following:
- Your financial capability
- Your business or job performance history
- Your credit score
An expert underwriter will carefully evaluate all three to attain the best credit decision possible. To avoid any delay, the information that you should submit should be organized and concise.
- Your surety bond will be issued and sent to you!
What are the surety bond conditions?
- The surety bond should be issued by a surety bond agent or company that is authorized to conduct business in the State of Maryland
- The Obligee of the surety bond will be the Administrator of Motor Vehicles, State of Maryland
- The licensed title service agent must obey the provisions of the Transportation Article of the Annotated Code of Maryland as well as the rules and regulations of the Motor Vehicle Administration of the Maryland Department of Transportation
- If the licensed title service agent commits a violation, the Obligee will be eligible to file a claim against the surety bond