How much does an auctioneer or auction company bond cost in California?
The California Secretary of State requires auctioneers and auction companies to post $20,000 surety bonds.
SuretyBonds.com issues these two-year bonds instantly for just $350! Simply click Buy Now to visit our secure bond checkout and purchase your bond online. In just a few minutes you can be on your way to getting bonded as an auctioneer or auction company in California.
|Bond Type||Bond Amount||Cost|
|$20,000 Auctioneer/Auction Company Bond||$20,000||$350|
Why do I need this bond?
By posting a California auctioneer or auction company bond, principals (auctioneers/auction companies) pledge to conduct business in compliance with the provisions of Title 2.95, Part 4 of Division 3 of the Civil Code of the State of California.
If the principal fails to comply with these terms and an individual suffers financial loss as a result, the bond protects the person from damages up to the full amount of the bond ($20,000). The auctioneer or auction company must reimburse the surety for all damages paid out.
What’s the fine print?
Auctioneer and auction company surety bonds in California remain in effect for the full two-year term of the initial bond. The surety can cancel the bond in accordance with the provisions of Section 996.310 of the Code of Civil Procedure.