Home improvement contractors who do not meet the financial solvency requirements of the Maryland Home Improvement Commission or who choose not to submit financial statements. Required when: Application for or renewal of a Home Improvement Contractor license when financial solvency is not demonstrated. Exemptions: Cont…
Overview
What it is.
Home improvement contractors who do not meet the financial solvency requirements of the Maryland Home Improvement Commission or who choose not to submit financial statements. Required when: Application for or renewal of a Home Improvement Contractor license when financial solvency is not demonstrated. Exemptions: Cont…
Who usually needs it
Home improvement contractors who do not meet the financial solvency requirements of the Maryland Home Improvement Commission or who choose not to submit financial statements.
Pricing & timing
What to expect.
Generic pricing
License bonds are required by state and local governments to ensure compliance with industry regulations. Typical Pricing:. • Small bonds (under $25,000): Typically $100–$250 per year (flat fee). • Larger license bonds: Commonly around 1–5% of the bond amount annually. • Credit impact: Good credit: starting around 1–2% · Average credit: typically 2–4% · Credit challenges: often 4–5% or higher. Same-day approval is typical for many common license bonds. Some license bonds may price higher de…
Typical timeframe
Issuance timeframe varies by bond type and underwriting
Application
What to do next.
Tell us the bond name, state, and amount on your form.
Share business and applicant info so the team can quote it.
Sign and pay; we issue the bond and send you the documents.
Keep your effective date and renewal date on file with us.
Start the application.
You are on the exact bond page. The next step is to start the quick application.
StateMDBond amount$30,000 if the applicant does not meet financial solvency guidelines (minimum $…Term length2 yearsObligeeMaryland Home Improvement CommissionRenewalThe bond must be renewed or a continuation certificate provided every 2 years to coincide with the license renewal term.Bond classLicense BondCategoryConstructionBondMaryland Home Improvement Contractor's BondStatutory referenceAnnotated Code of Maryland, Business Regulation Article, § 8-303(c)JurisdictionState
