What is a Maryland Home Builder Bond?
Maryland law requires registered home builders who receive payment on a contract before the completion of their projects to either obtain letters or purchase surety bonds. The purpose behind these documents is that if you don't finish your construction, then consumers will have their deposits refunded back through this type of insurance which protects them from losing money spent at signing up with certain corporations in case things go wrong as well!
Do you need a Home Builder Bond?
We can help you get the bond you need. We have a variety of bonds available, and we can work with you to find the best option for your needs.
We know that getting a bond can be confusing, so we are here to help. We will work with you every step of the way to make sure that you understand what is happening and that you are happy with your choice.
Contact us today to learn more about our Home Builder Bond!
Why is the Maryland Home Builder Bond required?
Businesses must purchase a bond to activate their license or permit. This guarantees that if the business fails to comply with licensing and permit laws, they will be compensated by the surety company for any damages incurred due this negligence. Need a Frederick County, MD-Plumbing Appliance Dealer Bond.
How does a Maryland Home Builder Bond work?
Getting a Maryland Home Builder Bond means you agree with the entity requiring it, called the obligee. Your surety company agrees to cover for you in case your clients or public make claims against their contract and need payment from your bond. If there’s ever any problems on either side of this agreement, only then will we get involved so that both parties can be satisfied. Have a Maryland Driver Education Program ($40,000) Bond.
How much does a Maryland Home Builder Bond cost?
Maryland Home Builder Bond is a type of surety bond that varies in cost and depends on the credit score of the applicant. Sometimes, personal or business financials may be required depending on what surety amount is needed for bonding purposes.
Can I get a Maryland Home Builder Bond with bad credit?
Swiftbonds offers a wide-range of approvals, regardless of credit history or bad credit. One key factor in our success is that we are able to work with 99% of applicants who have been turned down elsewhere due to their poor financial standing. Our knowledgeable underwriting staff will make sure you get the lowest possible price for your bond no matter what personal circumstances may be preventing you from getting approved for other companies' bonds. Read a Kent County, MD-Appliance Installation ($2,000) Bond.
How to get your Maryland Home Builder Bond?
Would you like to know the first step in getting your Maryland Home Builder Bond? It's super easy! Fill out our quick online application and get a no obligation quote today. Our Underwriters will contact you within an hour of submission, or come chat with them on the phone for help applying. See a Dorchester County, MD-Sanitary Construction ($2,000) Bond.