Swiftbonds issues auctioneer bonds all across the U.S. Whether you work in New York, Virginia, California, or Louisiana, we can get you the bond that you need!
Before an individual can be licensed as an auctioneer or operator of an auction house, they usually have to file a surety bond. A bond protects consumers from fraud or other ethical lapses by auctioneers. This bond protects consumers from goods being substituted or misrepresented by an auctioneer.
License Permit Misc Bond Application
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Auctioneer surety bonds are license and permit bonds that state governments request of individuals seeking to become auctioneers. By posting the auctioneer bond, the auctioneer ensures proper business practices are followed. In addition to protecting the public against fraud or misrepresentation, the auctioneer bond covers any act of illegal behavior on the part of auctioneers.
Find out More About an Auctioneer Surety Bond
The three parties involved in a surety bond have legal obligations. Auctioneer bonds have the following obligations:
- The bond is required by the state.
- Bonds are purchased by the auctioneer.
- Surety companies are the underwriters of bonds.
It ensures that the auctioneer follows all laws, rules and regulations regarding his or her business as an auctioneer. The surety provides the bond to guarantee the performance of these obligations.
A harmed party can file a claim against the bond if an auctioneer fails to fulfill his or her obligations and the surety will ensure that the obligations are met and/or reimburse harmed parties.
Get a Great Rate for Your Auctioneer Bond – Auctioneer Bond Cost
The amount of your auctioneer bond premium is determined by two factors: your financial stability and the amount of coverage required by your state. A surety will typically offer you a rate between One Percent (1%) and Five Percent (5%) of the bond amount, depending on your credit score. They also take into account your financial standing and your experience in the industry.
The Auctioneer Bond Cost premiums are also determined by how much coverage your state requires. Auction bonds are typically between $2,000 and $50,000. Some examples:
- Louisiana requires auctioneers to file $10,000 bonds that expire annually
- California requires $20,000 bonds issued for two-year terms
- New York can be issued instantly for just $100 without a credit check.
We can Get you a Bond even with Bad Credit
Most auctioneer bonds have credit-based premiums, like many other surety bonds. Fortunately, Swiftbonds approves more than 98% of applicants regardless of your credit score. Swiftbonds even has an exclusive bad credit bond program designed specifically for applicants
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Don't let a poor credit score stop you from getting the bond you need.
A Seller's bond is a type of surety bond that is required for business to sell certain taxable items within that state. The bond amount is determined by a formula calculated by the amount of estimated sales tax to be collected.What is an Auctioneers Bond?
What is a Seller's Bond?
States that Have Auctioneer Bond Requirements:
