Alabama Auctioneer Bond 

Alabama Auctioneer Bond

The $10,000 Auctioneer Bond is a requirement set by the Alabama State Board of Auctioneers (ASBA) to protect the public from harm by auctioneers and their apprentices who break license rules and regulations. This bond, provided by Jet, helps demonstrate compliance with licensing requirements and is a way to ensure compensation for damages from unlawful actions. 

PURCHASE BOND

Buying your Auctioneer Bond with Jet shows the ASBA that you are joined in its effort to protect the safety and welfare of the public.

How Much Does the Auctioneer Bond Cost?

You can purchase an Auctioneer Bond for $100 at Jet, guaranteed! You are automatically approved for the $100 rate, no credit check required! The chart below shows the different purchasing options available.

Bond TermCost
Monthly$10
1 Year$100
2 Years$175
3 Years$250
Alabama Auctioneer Bond Rates

You already know how much the Auctioneer Bond costs, all that’s left to do is purchase! Simply fill out our online application with the information needed for the bond form. Within minutes, you’ll be able to make payment for your preferred term.

The Auctioneer Bond Process With Jet

After you have finished the Auctioneer Bond application and completed payment, Jet will send you an emailed copy of your bond and a receipt that you can keep for your records. Our team will prepare the original bond form and mail it directly to the ASBS for filing, unless you indicate that you wish to complete the filing during checkout.

Once the original bond is signed, it is to be mailed to:

Alabama State Board of Auctioneers
2777 Zelda Rd
Montgomery, AL 36106

The Auctioneer Bond will be kept active until cancellation is requested. If you need to cancel your bond, send a written notice to our office or an email to [email protected] so we can notify the ASBS to begin the 60-day cancellation period. If you are paying monthly for the bond, your bond will remain active as long as payments are continuous. After the cancellation is complete, you will no longer be charged. For bonds that were purchased annually or in multi-year terms, Jet will review the remaining time left to determine if a refund is applicable following the complete cancellation of the bond. 

To renew your bond, you must fill out the renewal notice that you receive from Jet. Whether by mail or online, it only takes a minute to pay for the new bond term and keep your bond active; no additional paperwork is required. With monthly payments, renewals are a thing of the past! Each payment that comes out of your preferred account will keep the bond active.

How Does an Auctioneer Avoid Bond Claims?

As an auctioneer, you are expected to follow the Auctioneers License Act (Title 34, Chapter 4 of the Code of Alabama) to avoid implications from the ASBA or claims on your Auctioneer Bond. A claim can be filed by any person who has been damaged because of your actions that were in violation of the act. This includes:

Even criminal offenses, such as a felony or a misdemeanor of moral turpitude, are a violation of your responsibility as an auctioneer. You should be familiar with the standards that the ASBA expects of its auctioneers and apprentice auctioneers through the licensing process. Along with a thorough application process (which checks for a criminal record), your licensing exam tests your knowledge of the Auctioneers License Act and ethics, mathematics, and other skills useful for the license. If you follow the rules of this act, you should not receive a claim.

However, if a claim is initiated on your Auctioneer Bond, let Jet know straight away! You should be open and communicative during this time, as Jet will be working to defend you against false claims. If the claim proves to be valid, Jet must pay the claimant up to the full $10,000 limit of the bond. Once the bond has been used for a claim, you need to restore the bond to its full limit to avoid license suspension or revocation.

Alabama Auctioneer Bond Form

Notary Bond Application:

X

Business Information:

Indemnity Agreement:

I, the undersigned, hereby apply for a Dishonesty Bond also known as a Business Service Bond or Janitorial Service Bond (“bond”) to the Surety Company (“SURETY”) through Jet Insurance Company (“JET”), with whom I hereby grant the authority to act on my behalf with respect to the bond and assign as my Broker of Record, and declare that the statements herein are true and correct. In consideration of the SURETY issuing, renewing or substituting said bond(s), I, individually and as the owner or officer of the bonded entity, hereby understand and agree, as follows: (i) to reimburse, hold harmless, and indemnify SURETY upon demand for all loss, liability, claim, expense, including but not limited to attorneys’ fees, expert’s fees, investigative fees and claims handling fees, and any other cost which SURETY shall pay or incur in defense, adjustment, or settlement of such claims/suits by reason of such suretyship; (ii) that an itemized statement of loss and expenses by SURETY shall be indisputable proof of my liability to SURETY; (iii) coverage is subject to a $100 deductible; (iv) the employee must be convicted before coverage will apply (v) performance and any form of dispute resolution of this agreement shall take place in the county of SURETY's office of service; and (vi) a facsimile copy or electronically signed version of this agreement shall be binding as if it were an original. This agreement shall survive any changes in, substitute to or renewal of the bond(s).

Required Effect Date of Bond Policy:

Contact Information:

Employee Dishonesty Bond Application:

Business Information:

Business Description:

Coverage Requirements:

Indemnity Agreement:

I, the undersigned, hereby apply for a Dishonesty Bond also known as a Business Service Bond or Janitorial Service Bond (“bond”) to the Surety Company (“SURETY”) through Jet Insurance Company (“JET”), with whom I hereby grant the authority to act on my behalf with respect to the bond and assign as my Broker of Record, and declare that the statements herein are true and correct. In consideration of the SURETY issuing, renewing or substituting said bond(s), I, individually and as the owner or officer of the bonded entity, hereby understand and agree, as follows: (i) to reimburse, hold harmless, and indemnify SURETY upon demand for all loss, liability, claim, expense, including but not limited to attorneys’ fees, expert’s fees, investigative fees and claims handling fees, and any other cost which SURETY shall pay or incur in defense, adjustment, or settlement of such claims/suits by reason of such suretyship; (ii) that an itemized statement of loss and expenses by SURETY shall be indisputable proof of my liability to SURETY; (iii) coverage is subject to a $100 deductible; (iv) the employee must be convicted before coverage will apply (v) performance and any form of dispute resolution of this agreement shall take place in the county of SURETY's office of service; and (vi) a facsimile copy or electronically signed version of this agreement shall be binding as if it were an original. This agreement shall survive any changes in, substitute to or renewal of the bond(s).

Required Effect Date of Bond Policy:

Contact Information:

Contract Bond Application:

X

Business Information:

Owner Information:

Job Details:

Indemnity Agreement:

I, the undersigned, hereby apply for a Dishonesty Bond also known as a Business Service Bond or Janitorial Service Bond (“bond”) to the Surety Company (“SURETY”) through Jet Insurance Company (“JET”), with whom I hereby grant the authority to act on my behalf with respect to the bond and assign as my Broker of Record, and declare that the statements herein are true and correct. In consideration of the SURETY issuing, renewing or substituting said bond(s), I, individually and as the owner or officer of the bonded entity, hereby understand and agree, as follows: (i) to reimburse, hold harmless, and indemnify SURETY upon demand for all loss, liability, claim, expense, including but not limited to attorneys’ fees, expert’s fees, investigative fees and claims handling fees, and any other cost which SURETY shall pay or incur in defense, adjustment, or settlement of such claims/suits by reason of such suretyship; (ii) that an itemized statement of loss and expenses by SURETY shall be indisputable proof of my liability to SURETY; (iii) coverage is subject to a $100 deductible; (iv) the employee must be convicted before coverage will apply (v) performance and any form of dispute resolution of this agreement shall take place in the county of SURETY's office of service; and (vi) a facsimile copy or electronically signed version of this agreement shall be binding as if it were an original. This agreement shall survive any changes in, substitute to or renewal of the bond(s).

Required Effect Date of Bond Policy:

Contact Information:

Worker's Compensation Application:

X

Business Information:

Business Description:

Coverage Requirements

Indemnity Agreement:

I, the undersigned, hereby apply for a Dishonesty Bond also known as a Business Service Bond or Janitorial Service Bond (“bond”) to the Surety Company (“SURETY”) through Jet Insurance Company (“JET”), with whom I hereby grant the authority to act on my behalf with respect to the bond and assign as my Broker of Record, and declare that the statements herein are true and correct. In consideration of the SURETY issuing, renewing or substituting said bond(s), I, individually and as the owner or officer of the bonded entity, hereby understand and agree, as follows: (i) to reimburse, hold harmless, and indemnify SURETY upon demand for all loss, liability, claim, expense, including but not limited to attorneys’ fees, expert’s fees, investigative fees and claims handling fees, and any other cost which SURETY shall pay or incur in defense, adjustment, or settlement of such claims/suits by reason of such suretyship; (ii) that an itemized statement of loss and expenses by SURETY shall be indisputable proof of my liability to SURETY; (iii) coverage is subject to a $100 deductible; (iv) the employee must be convicted before coverage will apply (v) performance and any form of dispute resolution of this agreement shall take place in the county of SURETY's office of service; and (vi) a facsimile copy or electronically signed version of this agreement shall be binding as if it were an original. This agreement shall survive any changes in, substitute to or renewal of the bond(s).

Required Effect Date of Bond Policy:

Contact Information: