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Maryland bonds

Baltimore County, MD — Auctioneer Bond

Prepare the Baltimore County auctioneer's personal security file, keeping the individual applicant separate from the auction business information.

Also known as Baltimore County Auctioneer Bonds

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Recorded state
Maryland
Category
Business operations & taxes

What this bond does

The County application quotes the requirement to file $5,000 security with the Director before an auctioneer license is issued. The posted undertaking is to Baltimore County for the use and benefit of persons dealing with the named auctioneer.

Who needs it
An individual applying for or renewing the County auctioneer license. The application separately asks for the auction business's legal/trade names and owner; those business fields do not replace the individual auctioneer information.
Who it protects
The condition addresses proper accounting, payment and delivery of money or property entrusted to the auctioneer. The form gives persons dealing with that principal a direct action, within the stated $5,000 cap; it is not the auctioneer's own inventory policy.

Your bond option

This is the option on record for this bond.

The bond amount describes the limit of the bond obligation, not the price. A listed amount does not establish what the requesting party requires. The premium is what you pay and must be confirmed for the actual option. An E&O limit, where listed, is separate errors and omissions insurance.

Prepare the individual file for County review

Use the County application and undertaking, not a Baltimore City form. The individual auctioneer and the separately identified business must match the actual file; a trade name alone does not answer who is the licensed person and bond principal.

The application identifies May 31 license expiration, while the bond has annual start/end fields. Check the actual renewal period and issued dates rather than treating this unlabeled catalog choice as a full twelve months from purchase.

Purchase Now opens RLI. Review the principal/witness and corporate-surety execution, then follow the County's filing and legal-review directions. The application and bond include County review/tracking fields; provider issuance does not mean those reviews or the license are complete.

Sources

Have these ready

  1. Use Baltimore County, Maryland as the jurisdiction, not Baltimore City.
  2. Match the individual auctioneer's legal name and address to the application.
  3. Keep the business legal name, trade name and owner information available separately.
  4. Confirm the actual annual license period and issued-bond dates.
  5. Arrange the required execution and County filing/review.

Questions about this bond

Is this the same as the Baltimore City auctioneer bond?

No assumption of equivalence should be made. This posted form names Baltimore County and its Director/file. Use the actual County request rather than a similarly named City instrument.

Should I put only my auction company's name in the application?

The application has individual auctioneer information and separate business/owner fields. Complete the actual person's file and match the issued principal; a business trade name is not a substitute for all of those fields.

Does RLI issuance complete County approval?

No. Check the executed security and follow County filing directions. The posted documents include legal-review and tracking portions, and the application identifies a separate license issuance process.

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