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Washington bonds

Washington — Appraisal Management Company (Corporation) Bond

For this corporation offering, prepare the licensed corporation's identity rather than naming its signing officer as the individual business owner. Washington's posted AMC form expressly includes a corporation checkbox and states $100,000 security.

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Recorded state
Washington
Bond type
Appraisal Management Company Bond
Category
Real estate & property

What this bond does

Supply the corporation's Washington AMC licensing security using its actual applicant/business identities and the accepted State form.

Who needs it
The corporation applying or maintaining the AMC license, with an authorized person coordinating its execution.
Who it protects
The DOL form concerns AMC-law violations and its specified judgment/claim condition, with an aggregate limit. It is not insurance for every loss of the corporation or a guarantee of an appraisal's market value.

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.

Separate the corporate principal from its signer

Use the corporation named in the licensing file and its actual business name. Select the corporation structure on the form; the person executing for it does not become the individual principal merely by signing.

The posted R/8/25 form states $100,000 and asks for actual period dates. It directs a new form when the surety provider changes. Identify whether this is a provider replacement or another file update before treating existing security as interchangeable.

Purchase Now opens Propeller for this corporation option. Match the licensed entity and accepted instrument before applying, then follow DOL filing directions. Checkout does not incorporate a business, change its legal structure or issue the AMC license.

Sources

Have these ready

  1. Match the actual licensed corporation and business name.
  2. Identify the authorized corporate signer without substituting that person as principal.
  3. Have the current DOL form, required sum and effective dates.
  4. Describe a provider replacement or other filing change and obtain the proper issued evidence.

Questions about this bond

Should the signing officer be named as the individual principal?

Use the corporation actually named in the license file. An officer's execution role does not itself replace the corporate applicant with an individual business owner.

Can a provider change use the old provider's form unchanged?

The posted DOL form directs a new form when the surety provider changes. Confirm the exact replacement and effective-date instructions.

Does this option turn another business structure into a corporation?

No. Match the actual licensed entity and the named corporation offering. A purchase does not incorporate the business or change its legal structure.

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