How much does an auctioneer bond cost in California?
The California Secretary of State requires auctioneers and auction companies to post $20,000 surety bonds.
SuretyBonds.com offers these 2-year bonds for just $350! No credit check is required, so all applicants pay the same low price. Simply click the Buy Now button below to visit our secure payment portal to purchase your bond online today.
|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/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 as a result, the bond protects the person from damages up to the full amount of the bond ($20,000). The auctioneer/auction company must reimburse the surety for all damages paid out.
What’s the fine print?
Auctioneer/auction company surety bonds in California remain in full force and effect for the term of the initial bond (2 years). The surety can cancel the bond in accordance with the provisions of Section 996.310 of the Code of Civil Procedure.
Applicants must specify whether they’re an auctioneer or auction company on the surety bond form.