Complying with Washington auctioneer license bond requirements is imperative for any individual wishing to be an auctioneer or operate an auction house. Auctioneers throughout the state including in Seattle, Spokane, Bellevue, Kent and Tacoma are held to the same standard. Jurisco works with clients just like you to make sure they receive the best Washington auctioneer license bond at the lowest cost.
The state of Washington uses an auctioneer bond for the same reason they rely on other surety bonds. Bonds are an efficient way of providing protection against misuse or financial harm. Washington requires bonds to garnish wages or to bid on a construction project, so it’s not uncommon for the state to mandate a bond.
A Washington auctioneer license bond is used to offer recourse and/or restitution for an individual who suffered a financial loss because of an auctioneer’s unlawful practices. It is up to the auctioneer to understand the rules and requirements for their profession. An auctioneer found to be operating with improper bonding could be closed for business and/or hit with a large fine or legal action.
The cost of an auctioneer bond in Washington depends on the value of the bond. The surety bond value is based on the gross sales of an auctioneer. For established companies, the gross sale will be taken from the previous calendar year. Whereas new companies, will base the value off a projected gross sale.
Below is a breakdown of gross sale and bond amounts:
Need help determining the value of a bond? The surety bond experts at Jurisco help clients know which bond amount is right for them. Every auctioneer bond from Jurisco will be in full compliance with Washington mandates Chapter 19.11 RCW.
The lawyer-trained staff at Jurisco understand the importance of meeting deadlines. That’s why they are happy to offer same-day service whenever it is needed. Clients can depend on Jurisco to deliver the right Washington auctioneer license bond with no delay. Contact Jurisco today to learn more about auctioneer bonds in Washington and how they apply to your auctioneer business.