The Arkansas Appraiser Licensing and Certificate Board regulates appraisal management companies in Arkansas. The Board provides a detailed list of what is required before an appraisal management company license is granted.
Meeting the $20,000 surety bond requirement will be the briefest and easiest part of the entire licensing process.
The $20,000 Arkansas appraisal management bond is issued to you after the completion of a short surety bond application --- which we’ll take from you over the phone --- and payment of the premium of $200. The application consists just of how you want the bond titled, your name, and where the bond should be mailed.
Note that there is no credit check inquiry nor underwriter review for this bond. What this means for you is that after payment of the premium, our agency issues this bond to you immediately.
After receipt of payment, a copy of the surety bond can be sent to you. It is, however, the original surety bond along with your signature as Principal, that you will file with the Appraiser Licensing and Certificate Board.
At $200 premium, your appraisal management bond is issued to you for one year. Thereafter, the bond and the premium renew. A currently active surety bond must always be on file as a condition of licensing with the state.
Our agency also offers you the option to prepay this bond for up to 3 years. Prepayment of the premium lengthens the time between renewals. You are also afforded a savings over year to year renewal of the premium.
The premium prepayment options are as follows:
Your company appraisal management surety bond bond is a financial guarantee that you will pay any money owed as outlined in A.C.A §17-14-1401, and any other relevant statutes, and future amendments. As Principal for your bond, you are responsible to reimburse the surety for any claims paid against your surety, if such were ever to occur.
AmeriPro Surety Bonds is a surety bonds-only agency. We provide license and permit bonds throughout Arkansas. Our agency also provides surety bonds nationwide.
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