This bond ensures that the licensed Apprentice Auctioneer or Auctioneer understands and agrees to comply with all requirements of the Auctioneers License Act No. 811-1973. This bond serves to protect the public, as well as the Alabama State Board of Auctioneers, from any damages caused by misrepresentation or fraud by the licensee. This bond is for the amount of $10,000 per year, and is available in 1-, 2-, or 3-year terms.
Anyone applying for or renewing a license with the Alabama State Board of Auctioneers as an Apprentice Auctioneer or Auctioneer is required to file this bond before final approval is granted.
The costs of the bond are as follows:
1-year - $100
2-years - $175
3-years - $250
You must be covered by this bond for the entire duration of your bond, so be sure you select the proper duration in your application.
South Coast Surety has a simple online application that you may complete now. If you choose, you may download a PDF version of the application, and either email it to email@example.com, or fax it to (949)361-9926. If you choose to email or fax your application, please download and complete a payment form, and attach it to your application. Your bond will be issued within 1-3 days of your application and payment submission.
This bond may also be referred to as an Apprentice Auctioneer Bond, ASBA Form, or Auction Surety Bond.
A surety bond is a three-way agreement between a Principal (in this case, the Auctioneer or Apprentice Auctioneer), the Obligee (Alabama State Board of Auctioneers), and the surety company backing your bond. Unlike an insurance policy, a surety bond does not protect the Principal from financial liabilities. Instead, it protects the Obligee from any liabilities in the event that the Principal violates the terms of their licensure, and the Principal is obligated to repay any and all damages.
This bond is a requirement for anyone applying for an apprentice auctioneer or an auctioneer license in the state of Alabama, and acts as a guarantee to the Board of Auctioneers that the applicant understands and agrees to comply with all laws, regulations, and requirements outlined in the Auctioneers License Act No. 811-1973. In the event that the licensee violates these requirements, the Board, as well as the public, is protected from any damages resulting from the actions of the Apprentice Auctioneer or Auctioneer.
You are required to carry this surety bond for the entire duration of your licensure, and it is available for a flat rate in 1-, 2-, or 3-year terms at flat rates. The costs of the bond are as follows:
The bond amount is $10,000 for each year.
It is important that you understand the terms of your bond as well as the terms of your license. In the event of any fraud or misrepresentation, you will likely have a claim filed against your bond. If the claim is found to be legitimate, your surety company will pay damages to the injured party, at which point you will need to repay the full amount to your surety, plus any associated fees. In addition, your surety company may revoke your bond, which will invalidate your licensure. Your license will not be considered valid until you file a new bond. Any claims filed against your surety bond act as a mark against your "credit," and will be a negative factor in any future applications. Sometimes a claim may be the result of a miscommunication or may be found to be incorrect. It is important in any case to speak with your surety agent immediately to determine the best course of action. Your surety agent will perform the necessary investigation into any claim, and if it is found to be incorrect, will have no effect on your bond, standing, or licensure.
I have processed 2 defective title bonds through South Coast Surety and I am the type that gets worried for any little detail and want to make sure everything is done correctly the first time to prevent double work for myself and everybody. Knowing how I am both times I had to call customer service and they answered every little question I had in a very nice and gratifying way that made me feel I would not have any problems in which I did not. South Coast Surety has the ultimate best customer service.
Gaby - CA
I was shopping for a surety bond for the first time and having trouble communicating with several different companies. When I contacted South Coast Surety they responded quickly and performed the transaction quick and easy. I might have been able to find a lower price, but their professionalism was worth a couple extra dollars.
KG C. - CA
We are opening up a Mental Health Residential Treatment Center and needed a Surety bond since we will be handling some clients cash resources. I reached out to South Coast Surety, they sent me an application, paid our premium and had our bond sent to us immediately. Everyone I spoke to and emailed was courteous, attentive and responded very quickly. We will most definitely continue to get all of our bond services from South Coast.
John F. - CA
Great customer service from South Coast Surety. When I had questions about the bond and process, their customer service team assisted me with a sense of urgency and answered my questions. I recommend using their services. I will be a returning customer.
P&C B. - CA
I needed a surety bond and was referred by another company to south coast. I am very impressed with the level of customer service in every stage of issuing the bond, the rapid response to the get the bond issued and communication with the team. Great team and awesome service. I highly recommend South Coast Surety for you bond needs.
Mirwais A. - CA
I was in need of obtaining my CA Insurance Bond. I was able to obtain my required Bond quote online within minutes. I approved the quote and requested the Bond to be issued. On the same day, I received the Evidence of Coverage. Could not ask for better pricing or better service. I highly recommend South Coast Surety to meet a wide range of Bonding needs.
Udo G. - NJ
South Coast Surety has been proudly providing surety support to all fifty U.S. states for twenty years. Starting out as a small agency with a dream in San Clemente, California, we have steadily grown into one of the largest bond-only agencies in the nation. We write all commercial bonds and contract bonds for every American business and industry. Our greatest achievement is helping our clients grow their business alongside our own through coaching and obtaining larger bonding limits at the best rates. We work hard for our clients and take pride in bonding businesses that have been declined by our competitors.