A Tennessee auctioneer license bond is necessary when any person applies to be an auctioneer or operate an auction house in the state. Figuring out the details on how to apply successfully isn’t hard when clients let Jurisco take care of the details. Jurisco works with auctioneer license clients in Memphis, Knoxville, Chattanooga, Jackson, Nashville, and every corner of the state. When clients need an auctioneer license bond in Tennessee, it pays to deal with a trustworthy surety bond company.
The state of Tennessee is one of several states who require an auctioneer license bond. An auction bond serves as a buffer between residents and unlawful behavior on the part of an auctioneer. An auctioneer selling a vehicle for an unfair price (i.e. to a known-buyer for a sum well below a reasonable price) or selling vehicles that are lemons (i.e. stop running shortly after purchase) creates problems for people and the economy.
Tennessee requires that every auctioneer or auction house operator post a license bond in case they are accused of wrongful action. This provides residents with a recourse and the state with legal ground to stand on should a problem arise.
Each auctioneer bond is written to comply with Tennessee Code Annotated 6219102. Securing the bond is not the only licensing requirements, however, it is one routinely checked by the state department.
The cost of a Tennessee auctioneer license bond depends on the bond value. Tennessee requires at least a $50,000 value, though, local jurisdictions could add stipulations to alter that mandate. At Jurisco, clients only have to pay a small amount upfront. Surety bonds are the most cost feasible solution to securing a $50,000 value without having to pay out too much.
Surety bond experts at Jurisco work hard to deliver the lowest license bond cost possible. Being well-versed in Tennessee bond requirements, clients receive quick service. Securing a Tennessee auctioneer bond can be done the same-day the application is received. Contact Jurisco today to learn more about Tennessee auctioneer license bonds.