Montana Public Auctioneer Bond Guide
In Montana, public auctioneers need a $5,000 surety bond. Keep reading to learn more about the bonding process.
Bond Overview
- Purpose: To ensure auctioneers operate legally
- Who Needs It: Public auctioneers in Montana
- Regulating Body: The Montana Department of Commerce
- Required Coverage: $5,000
- Premium Rate: $100
What Is a Montana Public Auctioneer Bond?
A Montana public auctioneer bond ensures that auctioneers follow all regulations and handle money responsibly.
The Montana Department of Commerce requires this type of bond for all licensed auctioneers to protect the public from theft or fraud.
How Much Do Public Auctioneer Bonds Cost in Montana?
The mandatory $5,000 auctioneer bond coverage costs $100 for a 1-year term. Or, select a multi-year discount to save 25% and make your cost as low as $83 per year.
How Does a Montana Public Auctioneer Bond Work?
A public auctioneer bond creates a legal obligation between three people:
- Principal: You, the public auctioneer
- Obligee: The Montana Department of Commerce
- Surety: The surety provider issuing the bond
As the principal, you promise to uphold all bond agreements. If you don’t, anyone harmed by your actions can file a bond claim up to the $5,000 coverage amount.
How Do I Get an Auctioneer Bond in Montana?
SuretyBonds.com provides the quickest and easiest way to get a public auctioneer bond. Follow these quick steps to purchase your bond instantly:
- Enter your information on this page
- Pay for your bond online
- Select your FedEx shipping option
Once you receive your bond, be sure to file it with The Montana Department of Commerce.
How Fast Can I Get My Bond?
Purchase your bond instantly and get it as soon as tomorrow. SuretyBonds.com offers three-day, two-day and overnight shipping.
Can I Get Bonded With Bad Credit?
Yes! This bond does not require a credit check. You can buy your bond online today.
How Do I Renew My Public Auctioneer Bond?
This bond expires in one year. When you work with SuretyBonds.com, we’ll send you renewal reminders in advance.
As long as you pay the renewal invoice, this bond remains continuous until cancelled. However, the surety can cancel the bond by providing 10-day’s written notice to you and the Montana Department of Commerce.
