Ohio Auctioneer or Auction Firm Bond
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How much do auctioneer or auction firm bonds cost in Ohio?
The Ohio auctioneer bond costs $250 annually. The Ohio auction firm bond costs $500 annually. The state requires these bonds expire annually on June 30th, so your exact bond premium will depend on when you purchase your bond.
How do I get an Ohio auctioneer or auction firm bond?
You can purchase your Ohio auctioneer or auction firm bond online 24/7. Simply select the bond needed for your licensing requirement and provide your auctioneer or auction firm name for Department of Agriculture filing approval. Once your payment has been processed, your official Ohio surety bond will be delivered to your email instantly.
How fast can I get an auctioneer license or auction firm license bond?
SuretyBonds.com offers instant Ohio auctioneer license or auction firm license bond delivery 24/7. Purchase now to receive your official auctioneers board bond in minutes by email.
What is an Ohio auctioneer or auction firm bond?
Ohio Revised Code Section 4707.11 requires individuals file a $25,000 bond amount as evidence of financial responsibility with their auctioneer license application. Ohio Revised Code Section 4707.074 requires individuals file a $50,000 bond amount as evidence of financial responsibility with their auction firm license application.
The state's official $25,000 auctioneer bond form is titled the “Auctioneer Bond Statement” while the state's official $50,000 auction firm bond form is titled the "Auction Firm Bond Statement." These bonds require licensed auctioneer applicants comply with Ohio Revised Code and also specifically require licensees refrain from conduct described in section 4707.15.
Why do you need an auctioneer or auction firm bond?
You need to purchase and file an auctioneer or auction firm bond to provide evidence of financial responsibility as part of your auctioneer or auction firm license application. By filing your surety bond, you agree to comply with Ohio Revised Code when providing auctioneer or auction firm services. If you fail to do so, your issuing surety company will pay valid claims up to your $25,000 or $50,000 bond amount, which you must reimburse.
Who is required to carry an auctioneer bond?
Ohio requires auctioneer or auction firm licensing for those who only provide auction services. Ohio Revised Code specifically excludes the following from the state's license and surety bond requirement.
- individuals licensed as a motor vehicle auction owner who exclusively sell motor vehicles and otherwise use licensed auctioneers for their auctions
- livestock dealers who exclusively sell livestock and otherwise use licensed auctioneers for their auctions
Who regulates the auctioneer license or auction firm license?
The Ohio Department of Agriculture Auctioneer Program enforces licensing requirements for auctioneers and auction firms in the state. You can contact the Auctioneer Program by calling 1(614)728-6240 or by emailing [email protected].
The Ohio Department of Agriculture requires this bond for auctioneer licensing. If you work as an auctioneer in states other than Ohio, we also offer auctioneer bonds nationwide.
How do I update or change my auction bond?
If the Ohio Department of Agriculture requires your bond form to be updated for any reason, contact your surety bond company. If you purchased your auction service bond from SuretyBonds.com, email [email protected] to explain the needed change. The most common changes requested are updating your auctioneer or auction firm name to match your licensed auction service or auctioneer application.
How do I renew my auction bond?
Ohio Revised Code Section 4707.11 requires auctioneer licensees maintain their surety bond as proof of financial responsibility for 3 years following their initial licensure. You must renew your Ohio auctioneer or auction firm bond before its current term expires. Once you pay your SuretyBonds.com renewal invoice, renewal instructions will be provided to keep your bond active for your license renewal as required by law for your first 3 year licensing requirement.
How do you become a licensed auctioneer or auction firm in Ohio?
Complete the steps below to apply as a licensed auctioneer or auction firm in Ohio.
- Create an account and fill out your application on the eLicense Portal.
- Purchase and file your $25,000 or $50,000 required bond amount.
- Pay your license and exam fees.
- Provide a letter on school stationery confirming your school attendance and graduation from a school approved by the Ohio Auctioneers Commission.
- If a nonresident, provide a current original certification letter from your out-of-state licensing board.
- Pass your state examination.
Have Questions?
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