![]() When you apply for a two-year business license to operate as a Maryland title service agent, your application must be accompanied by a $50,000 surety bond. How can I get licensed as a MD title service agent? For applicants with lower credit ratings, one year's coverage could cost up to 10% of the bond amount. The exact price will vary depending on an underwriter's assessment of your financial qualifications, such as personal credit history and industry experience. The state sets the bond amount at $50,000, and your annual premium could be as little as $500, which is 1% of the bond amount. How much does a title service agent bond cost in Maryland? The Maryland Motor Vehicle Administration (MVA) requires you to post a surety bond as a condition of being properly licensed to offer vehicle tag and title services in the state. Unlike insurance, a surety bond protects the customer rather than the company performing the service. This $50,000 title service agent bond ensures that tasks involving driver and vehicle records are performed accurately, and provides redress to the state or individuals if they are not. In Maryland, however, these tasks are carried out by independent retail agents called title service agents or auto tag distributors. In most states, the department of motor vehicles provides services such as auto title transfers, vehicle registration, and driver's license renewals. Maryland Title Service Agent Surety Bond What is a title service agent?
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