How much does a $25,000 appraisal management company bond cost in North Carolina?
North Carolina appraisal management company bonds cost just $250 with no underwriting required. Simply click Buy Now to visit our secure bond checkout where you can purchase your bond directly from our site. In just a few minutes you can be on your way to getting bonded as a North Carolina appraisal management company.
|Bond Type||Bond Amount||Cost|
|$25,000 Appraisal Management Company Bond||$25,000||$250|
Why do I need this bond?
The North Carolina Appraisal Board requires appraisal management companies—or AMCs—to post $25,000 surety bonds as a licensing requirement.
North Carolina AMC bonds ensure that principals (appraisal management companies) conduct business according to all state and industry laws. By posting the bond, the principal pledges to promptly pay any amount of money due as provided in N.C.G.S. 93E-2-1.
The surety will initially cover any and all damages suffered by harmed parties as a result of the principal’s unlawful business practices up to the full bond amount. The AMC must reimburse the surety for any damages paid out.
What’s the fine print?
Appraisal management company bonds in North Carolina remain in full force and effect until canceled and for as long as the principal remains in compliance with the terms of the surety bond contract.
The surety can cancel the bond by giving 90 days’ written notice of cancellation to both the principal and the North Carolina Appraisal Board.
How to start an appraisal management company in North Carolina
To become licensed as an appraiser in North Carolina, applicants must complete all necessary steps of the licensing process:
- Complete required courses
- Download and complete application for licensure
- Complete and submit application
- Account for experience hours
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