WHAT IS A CALIFORNIA AUCTIONEER SURETY BOND?
Anyone that wishes to conduct business as an auctioneer or auction house in the state of California is required to obtain a surety bond. This bond is in the amount of $20,000 and must be filed prior to conducting business.
WHY DO I NEED A CALIFORNIA AUCTIONEER SURETY BOND?
California Auctioneer Surety Bonds guarantee that the principal (auctioneer/auction house) complies with Title 2.95, Part 4 of Division 3 of the Civil Code of the state of California and protects any person who against unlawful actions of the principal. If the principal does not comply with the terms of the bond, a claim can be filed with the surety company. If the claim is valid, the surety will pay up to the penal sum of the bond to resolve the claim. The principal is then required to reimburse the surety for all monies paid out, including but not limited to any attorney fees incurred by the surety.
WHAT ARE THE TERMS OF THE BOND?
California Auctioneer Surety Bonds are filed with the California Secretary of State and have a 2-year term. The bond can be renewed via a continuation certificate and may be canceled by the surety at any time, in accordance with the provisions of Sections 996.310 et seq. of the Code of Civil Procedure. The aggregate liability of the surety will not exceed the penal sum of the bond in any event.
CAN I GET A CALIFORNIA AUCTIONEER SURETY BOND WITH BAD CREDIT?
Pacific Surety offers a wide-range of approvals, regardless of credit, for Arkansas Credit Repair Service Surety Bonds. Our strong surety relationships help get your price down as low as possible each year. There is no need to shop your rate – we do that for you! If you have any specific questions, feel free to contact our knowledgeable underwriting staff.
HOW MUCH DOES A CALIFORNIA AUCTIONEER SURETY BOND COST?
California Auctioneer Surety Bonds are subject to underwriting and the price you will pay depends on a review of your personal credit report. Pacific Surety is proud to offer rates starting at $350 for the two-year term for well-qualified applicants. It typically takes just a few hours from quote to issuance of the bond, and we have the ability to beat any competitors pricing. If you have any specific questions, feel free to contact our knowledgeable underwriting staff.
HOW DO I GET A CALIFORNIA AUCTIONEER SURETY BOND?
The first step is to complete our quick online application for your free bond quote. Submission takes only five minutes, and our underwriting staff will be in contact with you within a couple of hours with pricing.
After you receive approval, you must sign an indemnity agreement with the surety and provide payment for your bond premium. In most cases, we can issue bonds the same day we receive your signed documents and payment.
- California Secretary of State – FAQ’s
- Title 2.95, Part 4 of Division 3 of the State of California Civil Code
- California Auctioneer/Auction Company Bond Form
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Auctioneer Surety Bonds – California
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