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What is the purpose of a California Auctioneer Surety Bond?
The Secretary of State does not issue licenses to auctioneers. Similar to the requirement for auction companies for those who would like to become auctioneers must file a $20,000 surety bond with the state. There is a $30 filing fee for the surety bond.
This bond protects people of the state from:
- Fraud
- Dishonesty
- Misstatement
- Misrepresentation
- Deceit
- Unlawful acts or omissions
The surety bond serves as an agreement between three parties, namely, the principal (the auctioneer), the oblige (the state) and the surety company. The surety bond serves as an assurance for the state that the auctioneer will follow all the rules and regulations of the state while practicing their profession as an auctioneer. If ever someone will incur a loss due to their violating the rules and regulations, they may file a claim and the surety company will compensate for the damages and losses. The amount will then be reimbursed by the principal in full to the surety company.
How do I obtain a California Auctioneer Surety Bond?
Complete our easy to navigate online application. Within one business day, one of our licensed agents will contact you with a no-obligation quote for your bond (the “premium”). Once any necessary paperwork is signed and the premium payment is processed, your surety bond will be shipped to you via USPS Priority Mail (overnight shipping options also available).
The surety bond experts at Surety Solutions Insurance Services, Inc. (Surety1) are here to help you get bonded quickly and reliably. We work with over a dozen “A” rated surety markets to ensure we find you the lowest rate for your bond. We are also licensed in all 50 states and maintain an A+ rating by the Better Business Bureau.