Maine Surety Bonds

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Maine Surety Bond Overview

Many types of businesses in Maine need a professional license before operating legally in the state. Obtaining a surety bond is often required during the licensing process. Bryant Surety Bonds underwrites all types of Maine surety bonds. We can help your business, with our expert knowledge and practical experience in bonding.

We also offer our Bad Credit Surety Bond Program, in order to assist applicants with problematic finances to get the bond they need. Because of our close relationships with a number of A-rated and T-listed surety bond companies, we can match your circumstances with the best bonding option. That’s why you’re guaranteed to get a top bond price with us, whatever your credit score is.

We’ve compiled a full overview of Maine surety bonds below. If you’re ready to get started, you can apply online today.

You can locate the exact Maine surety bond that you have to post in the table below. For any questions, we are available at (866)-450-3412.

Find the Bond You Need

  • Investment Advisor (Blue Sky) Bond
    Maine Securities Division
    Uniform Surety Bond
  • Collection Agency Bond
    Office of Consumer Credit Regulation
    Debt Collector/Repossession (Continuous)
  • Debt Consolidators Bond
    Bureau of Consumer Credit Protection
    Debt Management
  • Professional Fund Raisers Bond
    Department Of Professional & Financial Regulation
    Professional Solicitor or Commercial Co-Venturer
  • Insurance Agents/Brokers Bond
    BUREAU OF INSURANCE
    Insurance Consultant's License Bond
  • Insurance 3rd Party Administrator Bond
    Dept of Professional & Financial Regulations
    Insurance 3rd Party Administrator Bond
  • Mortgage Broker (1st & 2nd Mortgages) Bond
    Office of Consumer Credit Regulation
    Loan Broker
  • Mortgage Lender/Banker (1st & 2nd Mort.) Bond
    Bureau of Consumer Credit Protection
    Supervised Lender
  • Small Loan Companies Bond
    State Of Maine
    LOAN BROKER
  • Auto & Mobile Home Dealers (New & Used) Bond
    Bureau of Motor Vehicles - Dealer and Agent Servic
    Motor Vehicle Dealer
  • Auto & Mobile Home Dealers (Used Only, No New) Bond
    Bureau of Motor Vehicles - Dealer and Agent Servic
    Motor Vehicle Dealer
  • Detectives Bond
    State of Maine - Department of Public Safety
    P.I., Investigative Assistant, or Contract Securit
  • Employment Agencies Bond
    Maine Dept of Labor
    Nonprofit Organization Bond
  • Professional Licenses (All Other) Bond
    State of Maine Bureau of Consumer Credit Protectio
    Residential Real Estate Property Peservation Servi
  • Professional Licenses (All Other) Bond
    Payroll Processor Rocovery Fund
    Payroll Processor Bond
  • Turnpike/Bridge Toll Bond
    Maine Turnpike Authority
    Turnpike/Bridge Toll Bond
  • Utility Deposit Bond
    Central Maine Power Company
    Retail Store Bond (Central Maine Power Company)
  • Telemarketing/Phone Solicitor Bond
    OFFICE OF PROFESSIONAL AND OCCUPATIONAL REGULATION
    Transient Seller of Consumer Merchandise Bond

Types of Maine Surety Bonds

Bryant Surety Bonds offers the full selection of Maine surety bonds. Whether you need a license bond, contract bond, or court bond, we can get you bonded.

  • License and permit bonds are required from businesses that want to get licensed in a certain field.
  • Construction contractors are often asked to post contract bonds for public or private construction projects.
  • We also underwrite Maine court bonds, which you might be asked to post by a Maine court.

We can help you identify the bond you need, and answer any questions you might have regarding the bonding process. Just call us at (866)-450-3412. Keep reading for more about each category of Maine surety bond.

Maine License & Permit Bonds

Getting licensed is often required by a state, local, or city authority that regulates your trade. Depending on the type of business, you might have to provide a license and permit bond to be allowed to operate legally.

Maine surety bonds are required by licensing bodies to ensure the lawful and diligent work of licensed businesses. In this sense, they protect the general public from misuse and fraud.

Your Maine surety bond works like an extended line of credit for your business. It guarantees your compliance with the law. In case you don’t follow the rules set for your trade, a claim can be made on your bond. Claimants can be reimbursed up to the penal sum of your bond if the case is proven.

The most common Maine license and permit bonds are:

  • Maine auto dealer bond
    • Obligee: Maine Department of the Secretary of State Bureau of Motor Vehicles
    • Bond amount: $5,000-$25,000, depending on the number of sold vehicles
  • Maine mortgage broker bond
    • Obligee: Maine Office of Consumer Credit Regulation (OCCR)
    • Bond amount: $25,000
  • Maine payroll processor bond
    • Obligee: Maine Department of Professional and Financial Regulation
    • Bond amount: set on an individual basis

Maine Contract Bonds

Another type of common Maine surety bonds are [contract bonds](/contract-bonds]. They are used in private and public construction projects. Construction contractors need to obtain them for particular projects, on a per-project basis.

The goal of contract bonds is to safeguard the interests of the project owners, by guaranteeing contractors’ performance. Contract bonds are a safety net in case of defaults, or non-fulfilment of contractual obligations, by contractors.

The most common contract bonds include:

Maine Court Bonds

In some special cases, a Maine state or local court can require from you to post a court bond. This type of bond is not commonly underwritten, but Bryant Surety Bonds does offer them as well.

The cases in which you might be asked to obtain a court bond include:

  • To bring a court case to an appellate court, you have to get a supersedeas bond, also known as an appeal bond.
  • To become a fiduciary (guardian of property or assets of another person), a Maine probate court can ask you to obtain a fiduciary bond.

Surety Bond Cost in Maine

The surety bond amount that you are asked to post and your actual surety bond cost are two different things. The bond amount is the highest penal sum that might be used to reimburse affected parties in case of proven claims.

The surety bond cost, however, is only a percentage of this amount, called the bond premium. The usual percentages are between 1% and 4% for standard bonding market applicants. For example, If you are a Maine auto dealer who needs to post a $15,000 Maine surety bond, you might have to pay only $150-$450.

Your exact bond premium is determined after a thorough examination of your personal and business finances. The surety needs to take a close look at your financial stats and the overall condition of your company. With stronger indicators, you get a lower bond cost, as the risk of getting you bonded is smaller.

The most important criteria that are examined are:

  • Your personal credit score
  • Business finances
  • Assets and liquidity
  • Business experience

To get an idea of your bond price, you can use our surety bond cost calculator in the right sidebar of the page. For an exact Maine surety bond cost, you can submit your complete application today.

How to Get Bonded in Maine

Getting your Maine surety bond has never been easier! You can easily apply online today to get a free bond quote. After completing the full application and attaching all necessary documents, we will assess your case and provide you with your bond price in no time.

Once you’ve purchased the bond you need, don’t forget to keep a copy of the original bond form for your reference.

Have more questions regarding the bonding process? Read more about how surety bonds work here.

Bryant Surety Bonds’ experts are committed to assisting you throughout your bonding. For any questions, just call us at (866)-450-3412.