Maryland Auction License

Are you in search of precise information about the Maryland auction license? We got you covered! Find out every little detail about auctioneer licensure in this state.

General Requirements

Unlike Missouri, Maryland doesn’t offer a state license to its residents who want to become auctioneers. However, local counties may have their requirements for obtaining auction permits.

For instance, Baltimore County requires permission received from the Department of Permits, Approvals, and Inspections. To be eligible for this licensure you need to:

• Fill out the application form
• Provide proof of a $5,000 surety bond

Baltimore County prohibits engaging in any type of auction trade without having an allowance. So, make sure to complete these steps accordingly. Let’s dive deeper into the application procedure and discuss each step separately.

Maryland Auction License Application Process

Auctioneers must fill out the application and submit this paperwork to the Department. In the form the following info about the applicant should be provided:

• Full name
• Age
• Business and residence address

When you fill out all the sections you should also attach fees of licensure. An auction license in Maryland, Baltimore costs $180 annually. There is also a late fee applicable in the amount of $90 in case you fail to renew it on time. The renewal date is before May 31 of each year.

As we mentioned earlier, it is necessary to have a $5,000 surety bond to be eligible for licensing. It secures the performance of the auctioneer relating to the accounting, payment, and delivery of money or properties that are granted to the bondholder. According to this info, the Director may decide to grant you licensing or not. Make sure to review the Principal and Surety sections carefully. Prerequisites for auto sellers may be slightly different, so be sure to read the next paragraph.

Auto Dealers

The licensing procedure of car dealers in MD is different as you should apply to the Department of Transportation Motor Vehicle Administration.

Prior to your submission, you must choose the type of licensure you need. These include new, used and wholesale vehicle dealership licensing. As soon as you select this option, set a permanent business location. Keep in mind that the investigator should inspect the area and after that, you can pass the next step of your submission.

Necessary Paperwork for Maryland Auction License

As soon as your prospective work area has been inspected, you can carry on your submission process by filling out the application form and attaching these documents along with it:

• Proof of your MD business registration from the SDAT
• Approval letters from manufacturers whose autos you decided to trade through the dealership
• Worker’s compensation or proof of exemption from this demand
• New car certificate form
• Auto repair facility contract
• Proof of good standing, or other paperwork. You should contact MVA to get more info about providing docs of your financial stability.
• Background check

Additionally, you should also purchase liability insurance for cars that you’re going to deal with. Moreover, you also need to acquire a trader’s license from the Circuit Court of your local county where your business is situated. See all the 8 judicial circuits’ information on Circuit Court’s website.

Bond

Automotive traders must purchase a bond and the cost of it is defined by the number and sort of vehicles you expect to sell in one year. For instance, let’s say you desire to be a new car dealer and want to sell up to 500 vehicles. In this case, you must have $50,000 coverage.

Additional Info

Prior to the issuance, you should get enrolled in the dealer orientation class. You can find the request form for attending the class in the submission packet. When you complete the whole steps send all necessary documents along with the processing fee in the amount of $450 to the MVA address.