Ohio Auctioneer Firm Surety Bond

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Bond Penalty: $50,000

Each corporate, limited liability company, partnership or other business entity that wishes to operate as an auctioneer must file with the state an Ohio auctioneer firm surety bond. This surety bond acts as a guarantee that the auctioneer firm will adhere to state laws, conduct business ethically and fulfill its obligations to clients and the state.

Pursuant to Ohio Revises Code, Sec. 4707.074, each application for an auctioneer firm license shall be accompanied by proof of financial responsibility. The auctioneer firm surety bond shall be in the amount of fifty thousand dollars ($50,000). The bond must be issued by a surety company authorized to do business in Ohio. The Ohio auctioneer firm bond must run to the department of agriculture and include a condition that requires the applicant to comply with the state statutes and rules adopted under it, including a requirement that the person refrain from conduct described in section 4707.15 of the Revised Code. All auctioneer firm surety bonds must be issued on the bond form approved by the Director of Agriculture. A licensee must provide financial responsibility for three (3) years following the date of initial licensure. After the three-year period, a licensee who has not engaged in conduct described in section 4707.15 nor otherwise violated the law or the rules adopted by the Director during that period shall no longer be required to maintain proof of financial responsibility. Questions and application materials may be directed to:

Ohio Department of Agriculture
8995 East Main Street
Reynoldsburg OH 43068

Or may ask the Director questions on the state webpage.

Ohio surety bond experts, Surety One, Inc. provides same-day underwriting and quoting an auctioneer firm bond. We require the submission of only a brief commercial surety bond application. Financial statements are rarely needed unless the applicant has experienced a bond claim, license revocation or other negative action against his or her license or bond. We offer auctioneer bonds in all states, municipalities and for U.S. Bankruptcy Court auctioneers. We also offer standard and third party fidelity bonds for auction professionals on a stand-alone basis or package with the surety bond. Download an application on this page, or call us to discuss Ohio auctioneer firm surety bond need at (800) 373-2804 or click here for a live chat.

Surety bond application review and quoting are free of charge. There is no obligation to purchase.

What We Need From You

Obligee's Bond Form