How much does a Maine contract security company bond cost?
The Department of Public Safety - Maine State Police requires all applicants to submit a surety bond before becoming a licensed contract security company in Maine. A $10,000 bond is required for resident licenses and a $50,000 bond is required for non-residents.
SuretyBonds.com issues these bonds online instantly with no underwriting. Simply click Buy Now to purchase your bond directly from our secure bond checkout. Whether you are a resident or non-resident, it only takes a few minutes to be on your way to getting bonded as a security company in Maine.
|Bond Type||Bond Amount||Cost|
|$10,000 Contract Security Company Bond Resident||$10,000||$100|
|$50,000 Contract Security Company Bond Non-Resident||$50,000||$350|
Why do I need this bond?
A surety bond must be submitted by owners or operators of contract security companies pursuant to §9409 of the Maine Revised Statutes. The bond is in place to guarantee that compensation is available to anyone who suffers harm due to the principal’s failure to abide by all applicable rules, regulations and statutes.
What’s the fine print?
Contract security company bonds are issued for one-year terms and are required to be renewed annually via continuation certificate. Only when the company determines they will no longer offer contract security services may they choose not to renew their bond.
How to become a contract security company in Maine
As well as a surety bond, the Maine State Police also requires applicants to submit all of the following before issuing a license:
- Pay original application fee of $100 and State Bureau of Identification record check fee of $21 (upon approval, a $300 balance will be owed)
- Color photograph of applicant taken within six months of application date
- Copy of birth certificate
- Copy of military discharge (if applicable)