Alabama Apprentice/Auctioneer Bond |
AmeriPro Surety Bonds | 844-589-9732
Auctioneers – Alabama
The licensing for auctioneers in Alabama is overseen by the Alabama State Board of Auctioneers. The surety bond requirement of auctioneers is for both auctioneers and their apprentice(s).
According to the Board, the bond may be filed after passing the examination for licensing.
Our agency offers the auctioneer surety bond as both a first time and renewal surety bond. Meeting the bonding requirement will likely be the easiest and quickest part of your licensing compliance with the Board.
Amount of Surety Bond – Qualifying – Premium
The Alabama apprentice/auctioneer bond is a $10,000 surety bond required by the Board as a condition of licensing.
Qualifying is simple. After completion of a surety bond application and payment of the $100 premium, the bond will be issued to you by our agency. There is neither credit review nor an underwriter review for this surety bond.
After the bond has been issued, a copy of the bond can be emailed to you for no additional charge. The original surety bond which you as Principal, and we, as Surety, will sign will be mailed to you by the following business day.
Additional Premium Payment Options
Your apprentice or auctioneer surety bond is issued for a standard term of one year. Thereafter, as a condition of licensing, you’ll need to renew your surety bond.
Our agency offers the option to prepay this bond for 2 or 3 years. There are two advantages.
Besides the fact that prepayment means that you’ll renew your bond less frequently, you’ll also have a savings over year to year renewal of the bond’s premium. The prepayment options are as follows:
- Prepayment of this bond for 2 years is $180, a $20 savings.
- Prepayment for 3 years is $260, a $40 savings.
Purpose of Your Surety Bond Requirement
The AL auctioneer bond’s purpose is a financial guarantee which ensures your compliance with the Auctioneers License Act No. 811-1973, as also any future amendments or additions to this Act.
As principal of this bond you must indemnify the surety for any claims paid against your bond, up to the bond’s maximum amount.
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.
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