The Maryland Credit Services Bond is required by the Commissioner of Financial Regulation, in the amount of $12,000. The bond ensures the faithful compliance of the business with the Maryland Credit Services Business Act. Likewise, it protects buyers from damages incurred by violation of said Act.
According to the Maryland Credit Services Business Act, a credit service business is one that sells, provides, or performs any of the following services in return for payment:
Credit Services Businesses must be licensed. One of the requirements is the Credit Service Bond.
New license requests must be submitted through the Nationwide Multistate Licensing System (NMLS). Required items include:
At Surety1 we will get you bonded quickly. You can be assured of the lowest rates as we have partnered with over a dozen A-rated surety markets.
First, start the process by using our easy to navigate, free online application form. Then, after your application has been submitted, one of our surety agents will contact you with a no-obligation quote on the bond premium. After that, once you are ready to move forward, you just need to pay the premium and sign the agreement. Lastly, your bond will be mailed to you by USPS Priority Mail. Overnight delivery is also available for an additional fee.
Surety1 is licensed in all 50 states and is rated A+ by the Better Business Bureau. Surety1 has been writing surety bonds in Maryland since 2003.