$400 is your GOOD CREDIT PRICE for a Maryland Motor Vehicle Dealer Bond
If you are engaged as a title service agent operating in Maryland, you are required under the Transportation Article of the Annotated Code of Maryland to file a Maryland Motor Vehicle Title Service Agent Bond as a condition of licensure.
A surety bond protects the party requesting the bond, the Obligee, against any financial losses as a result of poor financial decisions, damages, unethical decisions, or a failure to follow state and local laws on the part of you, the Principal. The Maryland Motor Vehicle Title Service Agent Bond holds you accountable for your business decisions.
By possessing a Maryland Motor Vehicle Title Service Agent Bond, you are telling your Obligee that you can be trusted as a Principal and that you stand behind your business decisions.