A West Virginia auctioneer license bond is used for individuals operating as an auctioneer or running an auction house. This type of surety bond is only used in auctioneer cases. Jurisco works with clients throughout West Virginia to ensure they have the bond they need. Have questions about an auctioneer bond in West Virginia? Jurisco has the answers.
Yes, West Virginia regulates auctioneer bonds. Any auctioneer or auctioneer apprentice wishing to operate legally must secure a surety bond. Each West Virginia auctioneer license bond is written in compliance with state provisions of Chapter 19, Article 2C, and Section 4.
This isn’t the only type of surety bond that the state of West Virginia requires. Businesses often have to use a surety bond to fulfill their license requirements. A company wishing to bid on a city construction project must be bonded. A person wanting to remove a lien must use a bond. And an administrator of a will must secure proper bonding.
One of the main motivations for requiring a surety bond is being able to offer protection to residents. People living in Charleston, Huntington, Fairmont, Beckley and every other corner of the state deserve protection against unlawful auctioneer practices. An auctioneer license bond extends that protection to them.
The cost of a West Virginia auctioneer license bond depends on the value of the bond. According to state mandates, the value depends on if it’s for an auctioneer or auctioneer apprentice. For a license auctioneer the surety bond must be valued at $10,000. An apprentice bond will be valued at $5,000.
Of course, with a surety bond only a small percentage must be paid up front. The state uses surety bonds for this reason. They don’t want to make it impossible to become an auctioneer. They only want to protect against unlawful activity.
It is up to the auctioneer to make sure they are in compliance with state law. Talking with a surety bond expert helps gives people a better idea of which bond is right for them. Contact Jurisco anytime to discuss an auctioneer license bond with a surety bond expert. Jurisco can always be trusted to deliver the right West Virginia auctioneer license bond. Let the experts take care of the details and they’ll secure you a West Virginia auctioneer bond at the best prices.