Arkansas AMC Bond Overview
- Purpose: To ensure appraisal management companies follow state rules and regulations
- Who Needs It: All real estate appraisal management companies registered in Arkansas
- Regulating Body: The Arkansas Appraiser Licensing and Certification Board
- Bond Amount: $20,000
- Premium Price: $200 for a one-year term
What Is an Arkansas Appraisal Management Company Bond?
An Arkansas appraisal management company (AMC) bond protects lenders, home buyers and home sellers from dishonest or unregulated appraisals. It also makes sure that AMC pay any fees owed to appraisers and the state.
The Arkansas Appraiser Licensing and Certification Board requires all AMCs to file a $20,000 surety bond for state registration.
How Much Do AMC Bonds Cost in Arkansas?
The $20,000 Arkansas AMC bond costs a flat rate of $200 — no credit check required! You can also select a multi-year term to save 25%.
Click below to buy your bond instantly.
SuretyBonds.com offers the lowest available rates from our nationwide provider network with no added fees.
How Does an AMC Bond Work?
An Arkansas appraisal management company bond is a legal contract between these three parties.
| Bond Party | Description |
|---|---|
| Principal | The appraisal management company owner filing the bond |
| Obligee | The Arkansas Appraiser Licensing and Certification Board |
| Surety | The issuing surety provider |
This bond is your financial guarantee to the Board that you’ll comply with the Appraisal Management Company Registration Act. The following acts are strictly prohibited:
- Altering appraiser reports
- Pressuring or influencing an appraiser’s work
- Asking for property values before the report is complete
If you violate this act, harmed parties can file claims against your bond. The surety will pay valid claims up to the full $20,000 bond amount. However, you must refund the surety.
How Do I Get an AMC Bond in Arkansas?
With SuretyBonds.com, you can purchase your Arkansas appraisal management company bond online 24/7. Just enter your name and address into the form on this page. Once we receive your payment, we’ll email your official bond form in minutes.
Can I Get Bonded With Bad Credit?
Yes, this bond doesn’t require a credit check! Anyone can purchase an Arkansas AMC bond at the same flat rate.
How Do I Renew My Bond?
Arkansas AMC bonds expire annually. You’ll receive periodic text and email reminders starting 90 days before expiration. All you need to do is pay the renewal premium to extend your bond for another term.
Can I Make Changes to My Bond?
Yes, you can typically make small changes to your bond form, such as name or address, by contacting your surety company. Current customers can email [email protected] with the updated information.
How to Register an Appraisal Management Company in Arkansas
The Arkansas Appraiser Licensing and Certification Board requires all AMCs in the state to file for registration. To apply, complete the following steps:
- Register your business with the state.
- Designate an Agent for Service of Process with the Arkansas Secretary of State.
- Get a $20,000 surety bond.
- Complete the application form online and attach all necessary certifications.
- Pay the $500 application fee.
You must renew your registration annually, along with your surety bond. The renewal fee will not exceed $500.
