Maryland Surety Bonds

To understand how much you’ll need to pay for your Maryland surety bond, let’s look at the way your surety bond cost is formulated.

First of all, it is linked to the surety bond amount you are asked to post. This can be a fixed amount across the U.S. or a specific amount in your state or local area. In some cases, the amount is decided on an individual basis.

Your actual bond price is only a fraction of this amount. This is called the bond premium. Usually, for standard bonding it is between 1% and 4%.

Your exact percentage is determined on the basis of your personal and business finances. When you apply for a bond with your surety, it needs to examine these stats and evaluate how risky of a candidate you are. If your personal credit score is high and your financial situation is stable, you are likely to pay less for your bond, as getting you bonded would not pose a high risk.

Getting bonded in Maryland if you have problematic finances can be a daunting task. Here at Lance Surety Bonds, we have extensive experience of bonding a wide variety of businesses and we’re well aware of the challenges. This is why we offer our Bad Credit Program.

For applicants with low credit score, tax liens, bankruptcies, or civil judgments, we offer slightly increased bonding premiums. They are in the range of 5%-15% and compensate for the higher risk involved. Nevertheless, getting bonded with Lance Surety Bonds means you’re guaranteed to get a top bonding price. We work with numerous A-rated, T-listed surety companies, and we’ll always select the best bonding option for your particular circumstances.

Getting your Maryland surety bond has never been easier! You can apply online today for a free bond quote - no obligations!

Once you’ve compiled the full list of required documents and submitted them to us with your application, we will get your exact bond price in no time.

Whether you have a question about the bonding process or about your bond application, our bonding specialists are available to help. Just call us at (877) 514-5146.

If you need a full overview of how bonding works, make sure to consult our How to Get Bonded page.