California Auction Company Bond
Auction companies must secure a surety bond as part of the registration process to operate within California. Required by the Secretary of State, the California auction company bond serves as a financial guarantee against fraud, misrepresentation, or failure to compensate consignors.
Cost of a California Auction Company Bond
The cost of a $20,000 California auction company bond is only $400 with NNA Surety. Purchase yours today.
| Bond Amount Required | Annual Premium |
| $20,000 | $400 |
Who Needs a California Auction Company Bond
Companies are required to get a California auction company bond if they run public or private auctions, manage funds for consignors and buyers, or accurately advertise and represent the items they sell.
How the Auction Company Bond Works
The California auction company bond involves three parties:
- Principal: Auction company
- Obligee: California Secretary of State
- Surety: Bonding company that issues the bond
Misusing funds, misrepresenting items, or failing to pay consignors may lead to bond claims. If an affected party files a claim against the bond, the surety will investigate the claim and compensate the claimant if it’s found valid. The auction company is then required to reimburse the surety for any damages paid out.
How to Get a California Auction Company Bond
Getting the California bond is fast and straightforward. Complete this form with your personal and business information and pay the premium. The auction company bond form will be emailed to you ready for filing with the state.
Get Your California Auction Company Bond Today
NNA Surety can issue your auction company bond with no credit check. Take advantage of our fast application process and get bonded today. Call 855-968-1209 for more information.