Your Denver, Colorado Auctioneer's License Bond ensures that the city and county of Denver, Colorado shall remain harmless in the event of any claims, damages, liabilities, losses, actions, suits, or judgments against the Principal (you, or the license-holder). A surety bond does not operate like insurance - your surety agency will not cover any financial claims made against you. Instead, a surety bond is a form of protection for the obligee, and the general public interacting with your licensed operation. It is important that you understand and comply with all requirements set forth in the Revised Municipal Code of the City and County of Denver - Chapter 9, to fulfill your obligations as a licensed Auctioneer. Your surety company simply agrees that, in the event of a claim, they will resolve all financial matters directly with the injured party and will then handle all repayments directly with the Bond Principal.
Any individual applying for an Auctioneer's License in the city or county of Denver is required to file proof of their Auctioneer's License Bond with the Denver Department of Excise and Licenses. You will not be able to complete your license application until you have filed this bond. Note that this bond runs concurrent with your license, and expires on December 31 of the filing year. You must renew your bond each year.
A Denver Auctioneer's License Bond amount is $2,000 for a single year, but you only pay a percentage of this amount, called a premium. The premium for this bond is $100 for a 1-year term.
You can apply for your Denver Auctioneer's License bond now with our simple application. This is an "Instant Issue" bond, meaning that you will receive your bond as soon as you submit your completed application and payment. If you have any additional questions, you may contact a South Coast Surety agent now. Otherwise, get your bond in moments through South Coast Surety.
This bond is for anyone applying to be licensed as an Auctioneer in the city or county of Denver, Colorado, and may otherwise be referred to as an Auction Bond. Like all surety bonds, this is a three-way agreement: between you (the Principal), Denver (the Obligee), and the surety company backing your bond. The bond acts as a protective measure for the city and county of Denver - and its general public - in the event of any claims, damages, liabilities, losses, suits, actions, or judgments against the Principal. Any of the aforementioned issues may arise from any violations of Chapter 9 of the Revised Municipal Code of the City and County of Denver. To learn about all regulations pertaining to your Auctioneer's License Bond, refer to the Code of Ordinances HERE.
If you are filing for an Auctioneer's License, you must file this bond with your Obligee - The Denver Department of Excise and Licenses - before you will be approved. This bond is a prerequisite for your application. Upon receipt of your bond, use this form to submit your bond to the Department of Excise and Licenses.
If you violate any of the regulations laid out in Chapter 9 of the Revised Municipal Code, you are liable to have a claim filed against your bond. A surety bond does not function like insurance, meaning that you will be responsible for the full dollar amount paid out by your surety company to any damaged party. A surety bond acts as a signal of trust, and an additional layer of protection, from anyone who is financially involved in your auction in the event of fraud or misrepresentation, and the city or county of Denver holds no liability. Your surety company agrees to back you with this bond with the trust that you understand and agree to follow regulations.
If you feel that a claim against your surety bond has been filed wrongfully, it is important that you speak with your surety agent immediately to determine the best course of action. In the event of false claims, your surety agent will complete an investigation of the claim, and if it is determined to be false, will have no effect on your licensure or business operations. In the event that the claim is found to be legitimate, your surety may revoke your bond. Because this bond is a requirement for an Auctioneer's License in Denver, your license will be considered invalid until you are able to replace your bond.
It is important to understand that any claims against your bond are damaging for your current business, your financial wellbeing, and the ease with which you may apply for additional bonds in the future. Be certain to operate within the legal guidelines set forth, and respond to any potential miscommunication with customers as quickly as possible.
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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.