Alabama Appraisal Management Company Bond
AmeriPro Surety Bonds | 844-589-9732
Appraisal Management Company License – Alabama
Appraisal management companies in Alabama are regulated by the Alabama Real Estate Appraisers Board.
Candidates for this license must:
- Complete an application;
- Allow a criminal release;
- Have a consent to service on file;
- And file the appropriate surety bond.
The easiest process in all of this is the surety bond requirement. With our agency, you will have the appraisal management bond in a few minutes. We offer the surety bond for both new and renewal licensees.
Amount of Surety Bond – Qualifying – Premium
The Alabama appraisal management company bond is a $25,000 surety bond required by the Board. Qualifying is simply by completing a short surety bond application (which is typically done with an agent over the phone), and payment of the $250 premium.
With our agency, there is no credit inquiry or underwriter review for this bond. What this means for you is that this bond is issued immediately upon completion of the application and payment of the premium.
Once paid, a copy of the surety bond can be emailed to you for no additional charge. The original surety bond — which we will sign as Surety and we will sign as Principal — will be mailed to you by the same or the following business day.
Term; Premium Prepayment Options
Your appraisal management company bond is issued with a standard term of one year. Thereafter, this surety bond is renewed. A current and active surety bond must always be on file as a condition of licensing.
You have the option to prepay this surety bond for 2 or 3 years. Besides allowing for less frequent renewals, prepayment of your bond offers you a savings over year to year renewal of the surety bond premium.
The prepayment of the premium amounts and savings are as follows:
- If prepaid for 2 years, the premium is $450, a $50 savings;
- If prepaid for 3 years, the premium is $650, a $100 savings.
Purpose of Your Surety Bond
The purpose of this surety bond is largely twofold.
- The bond is a financial guarantee that you will be in compliance with all rules and legislation concerning an appraisal management company;
- The bond guarantees that you will pay any and all amounts that your company may owe according to §34-27A-50 of the Code of Alabama.
AmeriPro Surety Bonds is a surety bonds-only agency. We provide license and permit surety bonds throughout Alabama.
Our agency also provides surety bonds nationwide.
Please call AmeriPro Surety Bonds today at:
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