The Maryland Vehicle or Trailer Dealer Surety Bond is required by the Motor Vehicle Administration. Surety1 can offer same day approvals at the best price with just a filled out application.
What is the purpose of a Maryland Motorcycle Dealer Surety Bond?
The bond is one of the requirements of the Maryland Motor Vehicle Administration for those who would like to obtain a business license to establish a new dealership for trailers. A trailer is defined as a vehicle that
- Has no motive power
- Is designed to carry people or property and to be towed by a motor vehicle and
- Is constructed so that no part of its weight rests on the towing vehicle.
The bond states that the bondholder shall conduct the business in full compliance with those Sections of the Transportation Article, of the Annotated Code of Maryland, as set forth in the Regulations of the Administrator of Motor Vehicles for the State of Maryland. The bond amount is dependent on the type and amount of vehicles and trailers being sold.
What are the other requirements that need to be submitted aside from the surety bond?
- Application for Vehicle Dealer’s License
- Zoning Approval Form
- Power of attorney
- Proof of Worker’s Compensation coverage
- Criminal background check
- Trader’s license copy
- Business registration letter
- Automotive Repair Facility Contract
- Letter of good standing if the dealership is licensed in another state and you would like to open a new location in Maryland
- Insurance Information Form
- Franchise Approval from the manufacturer
- Other forms such as Use and Occupancy Permit or Dealer Orientation Request
- New Vehicle Certification Form (for new motorcycle dealers)
Make sure to schedule a site inspection with an MVA investigator who will go to your place of business and inspect your place of business to ensure compliance with the Maryland Code of Regulations.
Where can I get a Maryland New or Used Vehicle Dealer Surety Bond?
Surety1 is able to provide all your bonding needs with only a completed application form. Our process is fast and easy. Once the form is submitted, expect a call from one of our agents who will give you a quote for the bond premium. Once the premium has been paid and the paperwork has been signed, you have the option of receiving your surety bond via USPS Priority Mail or overnight delivery.
Surety1 is one of the most trusted names when it comes to surety bonds. We have been in the business since 2003 and we issue surety bonds for all 50 states. Our excellent service has even earned us an A+ rating from the Better Business Bureau.