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Maryland Electricity Supplier Bond

How much does an electricity supplier bond cost in Maryland?

Maryland electricity supplier bonds remain in effect until they are canceled and must be in the amount of $50,000. The cost of this bond is based directly on a review of the applicant’s personal credit report. Applicants with strong financial credentials could qualify to pay as low as $500 for their bond!

Give us a call at 1 (800) 308-4358 to speak with an expert surety bond specialist today, or fill out our online bond request form to begin the bonding process.

Bond Type Bond Amount Cost by Credit Score*
680 and up 679 - 600 599 or lower
Electricity Supplier Bond $50,000 Starts at $500 $2,500-4,000 $5,000+ Apply Now
*The bond premium rate quotes provided to you through this website are for pricing comparisons and quotation estimate purposes only. The bond rate quotes provided are based on general assumptions that may or may not be applicable to you and are subject to change at any time. These rate quotes do not constitute an offer of insurance, nor is any contract, agreement, or bond coverage implied, formed or bound by the provision of rate quotes. Bondability, final bond premium rate quotes and an offer of insurance, if any, will be determined by the insurance company providing your bond. You must contact us directly to obtain a quote for binding purposes.

If you’re ready to get bonded, call SuretyBonds.com at 1 (800) 308-4358 or fill out our online bond request form and we’ll get you set up with the bond you need quickly, easily and accurately.

Why do I need this bond?

Maryland electricity supplier bonds hold principals (suppliers) to the rules and regulations included in the Maryland Annotated Code, Public Utilities Article, 7-507 et. Sec and Code of Maryland, Title 20. These bonds protect customers if they suffer financial damages as a result of the supplier’s business practices. If valid claims are filed against this bond, the surety will cover any damages up to the penal sum of the bond ($50,000). However, the principal must reimburse the surety for all damages paid out.

Our team of bond experts is here to help you with any bonding questions you might have. Submit a bond request, and one of our surety specialists will contact you right away to walk you through our clear-cut bonding process.

What’s the fine print?

Electricity provider bonds are required by the State of Maryland Public Service Commission and remain in effect until they are canceled. To cancel the bond, the surety must provide the state with at least 60 days of notice prior to the date of cancellation.

How to become an electricity supplier in Maryland

Applications for an electricity supplier’s license must meet the following criteria:

  • be furnished on a form prescribed by the commission
  • be verified by oath or affirmation
  • contain proof of managerial and technical competence
  • contain the applicable license fee

The commission reserves the right to revoke or suspend a license if an applicant is found guilty of breaking any of the applicable laws.

Submit a bond request to connect with a surety specialist right away!

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Get a FREE Electricity Supplier Bond Quote Today!

Code of Maryland Annotated Regulations Title 20 Public Service Commission Subtitle 51 Electricity Suppliers

Application for License to Supply: Maryland Public Service Commission

Maryland Public Service Commission

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