Ohio Auction Firm Surety Bond

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If your business is involved in arranging, managing, sponsoring, or providing auction services for personal property (and potentially real estate, with proper real estate licensing) in Ohio, you'll need to secure an Ohio Auction Firm Surety Bond. This bond is a mandatory requirement set by the Ohio Department of Agriculture (ODA) Auctioneer Program, ensuring that all licensed auction firms uphold ethical standards and protect consumers in accordance with Ohio Revised Code Chapter 4707.

The required bond amount is $50,000. These bonds expire June 30th of each year.

Most applicants with good credit will qualify for rate indicated. In order to receive your specific quote, we must review your qualifications to determine the lowest possible price. If you have already been declined or nonrenewed by another Surety Company, chances are you will not qualify for this preferred rate.

We have various sureties willing to write bonds for applicants with less than perfect credit, including a special program with very competitive prices for those with just a few credit blemishes.

We find the best possible price for your surety bond given your particular qualifications.

Additional information about this corporate surety bond requirement is as follows:

Obligee - Ohio Department of Agriculture Enforcement/Auctioneer Program
Bond Amount - $50,000
Bond Premium - $250
Renewal Document - None.

Preview Bond Form

Click on the No Obligation Quote button to complete our simple, one-page online bonding application. Completing the following application allows the underwriters at BondAbility to provide you with a specific quote for the exact bond you need. After you submit our online application, we will respond with your personalized quote within the hour!

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Contact Info

First Name *

Last Name *

Email *

Phone *

Fax

I am an ...

Insurance Agent

Applicant

Attorney

Other

Next

Applicant Info

Applicant Name (Exactly as to appear on bond or license) * _{Most Obligee's require that the name on the Bond EXACTLY match your license or license application.}

Type of Entity

Sole Ownership

Corporation

Partnership

LLC or LLP

Business Address *

City *

State * Select your State Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware Dist of Columbia Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Vermont Virginia Washington West Virginia Wisconsin Wyoming

Zip Code *

Do you have or need other bonds

Effective Date *

Bond Amount *

Please indicate any ownership changes in the last 12 months

Previous surety (if any)

Reason for changing surety

Has the business or any of the owners been involved in:

Had any lawsuits, liens or judgements against them?

Yes

No

Ever failed in business or declared bankruptcy?

Yes

No

Ever been convicted of a crime?

Yes

No

Ever had their business license suspended, revoked or denied?

Yes

No

Ever been party to a surety bond claim?

Yes

No

Ever had a bond declined or cancelled?

Yes

No

If yes to any, please explain

Next

Personal Info

Add Another Owner

Next

Additional Documents

If there are documents that you would like to upload for our review, please upload them below

Add Another File

By submitting this Application, the owners listed above hereby authorize BondAbility, (including any of its representatives affiliates, agents or designees) to conduct any and all investigative inquiries including but not limited to obtaining consumer credit reports. Any person who knowingly and with intent to defraud any insurance company or other person files an application for insurance or statement of claim containing any materially false, incomplete, or misleading information, or conceals information concerning any material fact whereto, commits a fraudulent insurance act, which is a crime punishable by incarceration, and shall also be subject to civil penalties

Please check the box above.

Submit Application

Why is The Ohio Auction Firm Surety Bond Required for Ohio Auction Firms?

The primary purpose of the Ohio Auction Firm Bond is consumer protection and regulatory compliance. It serves as a financial safeguard, ensuring that your licensed auction firm will: Operate strictly in accordance with Ohio Revised Code Chapter 4707 and all rules adopted by the Ohio Department of Agriculture. Conduct all auction services and transactions with honesty, integrity, and transparency. Accurately account for and properly handle all funds, consignments, and property entrusted to the firm. Avoid engaging in any fraudulent, deceptive, or unethical practices (as outlined in Ohio Revised Code Section 4707.15, which prohibits acts like misrepresentation, failure to account for money, or engaging in bid rigging).

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