Regulations concerning the administration of franchises in Maryland are overseen by the state’s Division of Securities office. This includes the surety bond requirement.
AmeriPro Surety Bonds offers you the potential to obtain the surety bond required by simply completing an application and with no credit score inquiry.
According to current regulations, the Maryland franchise surety bond amount that you will post will be in an amount that is equal to the franchise fee, and multiplied by the number of franchises that you expect to sell in Maryland in the following year. (Section 02.02.08.08, F (2) (a)).
Since there are no fixed surety bond amounts for the Maryland franchise bond, our agency offers you this rule of thumb:
Additional options exist to prepay the same bond for 2 or 3 years, which will offer you a savings over year to year renewal of this bond at the same amount.
Between $50,001 to $250,000
Our agency offers you the premium amount for 1% annually and without no credit check. However, all of the following below must apply to you. If it does not apply, all that means is that you will undergo the standard underwriting process; you may still qualify for the best rates.
Standard underwriting procedures apply, including a credit inquiry. There may also be a request for a copy of a financial statement.
Each price classification offers you the option to prepay for 2 or 3 years, thereby offering you a savings over year to year renewals.
The purpose of the Maryland franchise bond is to serve as a financial guarantee for franchisees that you will provide the real estate, training, and other items needed that a franchisee needs to properly administer their business.
AmeriPro Surety Bonds is a surety bonds only agency. We provide license and permit, court, and fiduciary bonds throughout Maryland.
Our agency also provides surety bonds nationwide.
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