Maryland Home Improvement Contractor Bond Form
Description
How to fill out Maryland Renovation Contractor Package?
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FAQ
You can get a surety bond from an insurance agency or a surety bond agency. Many people choose to get their Marland bond through a surety bond agency because of better rates. Many surety bond companies allow you to apply online for your bond. Browse available Maryland bonds.
Reg. Code § 8-101. A person may not act or offer to act as a contractor in Maryland for home improvement work unless the person has a home improvement license, and may not sell, or offer to sell a home improvement unless the person has a home improvement license or salesperson license.
A contractor cannot accept more than 1/3 of the contract price as a deposit and may not accept any payment until the contract is signed. Also be careful about paying for more work than the work that has actually been completed. Small contractors may ask for an "advance" in order to purchase materials.
Maryland Contractor License Bond InformationThe 2-year bond is required to obtain (and maintain) a Maryland contractors license for contractors engaged in home improvement and remodeling.
A $20,000 surety bond for home improvement contractors in Maryland costs as little as $200 per year, meaning a 2-year bond would cost as little as $400 for highly qualified applicants.