How much does a $20,000 appraisal management company bond cost in Arizona?
Arizona appraisal management company bonds can be issued instantly for just $200. Simply click Buy Now to visit our secure bond checkout where you can purchase your bond in minutes.
|Bond Type||Bond Amount||Cost|
|$20,000 Appraisal Management Company Bond||$20,000||$200|
Why do I need this bond?
The Arizona Board of Appraisal requires that AMCs working in the state post a $20,000 surety bond as part of the licensing requirements.
By posting an Arizona appraisal management company surety bond, appraisal management companies agree to protect their customers from fraud and misrepresentation by acting ethically and lawfully while on the job. These bonds serve as a form of insurance for customers to guarantee that they will be compensated if they suffer any damages or losses due to an appraisal management company’s faulty business practices.
This bond states that appraisal management companies will not give faulty evaluations of properties for any reason. By posting an appraisal management company surety bond, principals (appraisal management companies) also ensure that all appraisers contracted by their companies are licensed and certified and that all other laws and regulations stated in the Arizona Revised Statutes - Title 32 are followed.
What’s the fine print?
Arizona appraisal management company bonds are continuous until canceled and are required by the Arizona Board of Appraisal. If the surety decides to cancel this bond for any reason, 30 days notice must be given to the Board.
When filling out the surety bond form, applicants should be sure to indicate if they’re applying for a new bond or renewing an existing bond.
How to start an appraisal management company in Arizona
To become a licensed AMC in Arizona, companies must complete the designated registration packet and do the following:
- pay the required registration fee
- submit a fingerprint clearance card
- submit a certificate of good standing
- provide contact information for any individual authorized by the AMC to select independent appraisers for real property services in Arizona
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Other Appraisal Management Company Surety Bonds
If you’re interested in expanding your AMC business to other states, SuretyBonds.com can help! Our surety experts can provide fast, easy, and accurate bonding services in other states as well. For more information about appraisal management surety bonds, click here.