License & Permit
Auctioneer Bond
An auctioneer bond is a surety bond auctioneers must post to get a state license.
- Required by
- State auctioneer licensing boards (Alabama State Board of Auctioneers)
- Bond amount
- Set by whoever requires the bond. We confirm it.
What this bond guarantees
The bond runs to the state auctioneer board for the protection of the public. It guarantees the auctioneer will follow the auctioneer licensing law. Claims arise from fraud, misrepresentation, or mishandling of sale proceeds owed to sellers or buyers.
Who needs it
- Licensed auctioneers
- Apprentice auctioneers
- Nonresident auctioneers working in the state
What the underwriter looks at
- Auctioneer's credit
- Experience
- Complaint history
Requirements vary by state and by who asks for the bond. Send us the request you received and we will confirm exactly what it calls for.
Common questions
How much is the Alabama bond?
Alabama requires a $10,000 bond for auctioneers and apprentices under Code of Alabama 34-4-24, filed with the State Board of Auctioneers.
I hold a license in another state. Do I still need an Alabama bond?
Yes. Bond brokers report that even reciprocal licensees need an Alabama bond.