You must obtain a surety bond in order to become a licensed dealer in the State of Maryland. There are different types of dealer licenses and requirements for each.
The following is a list of the different types of Surety Bonds required by the Maryland Motor Vehicle Administration:
Surety Bond of Vehicle and Trailer Dealer
The bond amount requirements vary depending on the type of license and volume of business.
Surety Bond of Motor Vehicle Manufacturer
This bond is for the following types of licenses:
Surety Bond of Title Service Agent
The bond amount is $25,000 and a separate bond is required for each licensed location.
If you are unsure which license you need to apply for, refer to the Motor Vehicle Administrationâ€™s Summary of Dealer Types. There you will find descriptions of the different license types and links to their licensing instructions.
Depending on the type of license, you may be able to download the application from the Motor Vehicle Administrationâ€™s website. If the application is not available online, you can request one by contacting the MVA Business Licensing and Consumer Services Unit either by phone (800) 950-1MVA or email firstname.lastname@example.org.
When applying for your license, be sure to follow all the instructions detailed in your licensing package. There are several forms to be completed, as well as various documentation to obtain (permits, insurance, bond, etc.). All required documents must be submitted along with your application, including the surety bond.
This guide should serve as a good starting point. But remember to check with the Motor Vehicle Administration for the most up-to-date licensing & bond requirements.
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