Securing a Mississippi auctioneer license bond is mandatory for any person to receive an auctioneer license. Clients in Jackson, Southaven, Biloxi, Gulfport, and Tupelo are held to the same standards as the rest of the state. There are instances where local jurisdiction makes additional requirements, but for the most part a Mississippi auctioneer license bond is the same across the board.
The auctioneer bond isn’t the only type of surety bond regulated by the state. Appeal bonds, administrator bonds, garnishment bonds, realtor bonds, and trustee bonds are just a few of the surety bonds the state regulates. Auctioneer license bonds offer a form of protection not found elsewhere for people in the state. When an estate entrusts an auctioneer they make themselves vulnerable. A surety bond instills a level of trust.
In an effort to make sure every auctioneer is bonded, Mississippi puts this requirement up front. Failure to comply with bond mandates will result in a license application being denied and/or legal action. Each Mississippi auctioneer bond is written in accordance with License and Regulate Practice of Auctioneering Bill No. 2554, Section 73-4-1.
State mandates call for an auctioneer bond to be valued at $10,000. Of course, this doesn’t mean that an individual has to pay $10,000 in cash. A license bond only requires a small percentage to be covered up front, but still offers protection of 100% of the value.
A Mississippi auctioneer license bond is not meant to be a deterrent to a person seeking to become an auctioneer. That’s one reason why the cost is kept so low. Jurisco works with clients throughout Mississippi to make sure they receive the best deal on an auctioneer bond.
Contact Jurisco today for more information on a Mississippi auctioneer bond.