A Virginia auctioneer license bond is necessary for anyone operating an auction house or serving as an auctioneer. Whether it is for art, vehicles or other property, an auctioneer must operate within the bounds of the law. Virginia has a high standard for auctioneers and the surety bond experts at Jurisco helps clients across the state to have the bond they need.
Virginia regularly uses surety bonds to regulate businesses and court actions. An auctioneer license bond is another type of surety bond the state relies heavily upon to make sure auctioneers conduct their business legally. Each auctioneer bond is written in accordance with the Virginia Auctioneers Board Regulations pursuant to Virginia Code 54.1-603.
A Virginia auctioneer license bond is required for any individual wishing to be an auctioneer or operate an auction house. Without this license bond a person can be found in noncompliance. The auctioneer bond in Virginia allows individuals who have suffered a financial loss due to the unethical activity of an auctioneer to have a recourse. Having the bond in place provides immediate relief and restitution.
The cost of a Virginia auctioneer license bond depends on the value of the bond. State regulation requires a minimum of $10,000 with a coverage period of two years. Local jurisdictions can alter the requirements to increase or decrease the value and coverage period. Jurisco works with clients in Norfolk, Chesapeake, Richmond, Arlington and elsewhere in the state. The lawyer-trained staff is well-versed in local requirements so clients always receive the right Virginia auctioneer bond at the lowest cost.
The surety bond experts at Jurisco are always here to help. Understanding how to satisfy Virginia’s auctioneer license bond requirements is easier with Jurisco’s help. Contact a Virginia surety bond expert today to learn more about which bond is best. Clients can always count on Jurisco to deliver a low auctioneer bond rate with an ironclad bond.