How much does an auctioneer bond cost in Alabama?
The Alabama State Board of Auctioneers requires auctioneers to post $10,000 surety bonds prior to conducting business.
SuretyBonds.com issues these bonds instantly for just $100 with no credit check required. Simply click Buy Now to buy your bond online using our secure bond checkout. It only takes a few minutes to be on your way to getting bonded as an auctioneer or auctioneer’s apprentice in Alabama.
| Bond Type | Bond Amount | Cost | |
|---|---|---|---|
| $10,000 Bond for Apprentice or Auctioneer | $10,000 | $100 |
Why do I need this bond?
Alabama auctioneer bonds are put in place to ensure that principals (auctioneers) conduct business in accordance with the provisions of the Auctioneers License Act No. 811-1973 and all pertaining amendments. If a principal fails to comply with these terms, the bond protects any person who suffers damages as a result of the principal’s fraud, misrepresentation or other acts of noncompliance.
The surety will reimburse harmed parties up to the full penal sum of the bond ($10,000), and the principal must reimburse the surety for any damages paid out.
What’s the fine print?
Auctioneer bonds in Alabama remain in full force and effect indefinitely. The surety can cancel the bond at any time by giving written notice of cancellation to the Alabama State Board of Auctioneers at least 60 days prior to the effective cancellation date.
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Additional Resources
Alabama State Board of Auctioneers
Alabama State Board of Auctioneers Auction Laws - Code of Alabama, 1975
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