Auctioneer ($5,000) Bond - Baltimore County, MD in Maryland

Brief Summary

Baltimore County licenses auctioneers under its own county code, and the $5,000 surety bond is the part of the license file that protects the sellers and buyers who trust you with goods and money. You pay a yearly premium instead of setting aside $5,000 in cash, and the bond is issued in the exact name on your county application so it can go straight into the license file.

Auctioneers licensed by Baltimore County, Maryland post a $5,000 surety bond in favor of Baltimore County under the county's auctioneer licensing rules in Title 5, Auctioneers, of Article 21 of the Baltimore County Code. Baltimore City is a separate jurisdiction with its own auctioneer license and bond, so check which one your sales fall under. Confirm the current bond form and filing steps with Baltimore County before the bond is issued.

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How to Apply for a Auctioneer ($5,000) Bond:

• Confirm your sales take place under Baltimore County licensing, not Baltimore City, since each jurisdiction licenses and bonds auctioneers separately.
• Get the current auctioneer license application and bond form from Baltimore County.
• Have the auctioneer's or business's legal name exactly as it will appear on the county license.
• Provide the owner's name, home address and Social Security number for the surety's credit review.
• Pay the premium and receive the executed $5,000 bond naming Baltimore County as obligee.
• File the original bond with the county license application and keep it in force for as long as the license is active.

Detailed Information About the Maryland Auctioneer ($5,000) Bond:

Baltimore County, not Baltimore City

The most common mistake with this bond is the jurisdiction. Baltimore County is its own county government, and it regulates auctioneers in Title 5 of Article 21 of the Baltimore County Code, the article that covers permits, licenses and business regulation. Baltimore City is a separate jurisdiction. Its code, at Article 2, Subtitle 1, says no auctioneer appointed under that subtitle may conduct auction sales without first posting a surety bond and being issued a city license. The bond on this page is written to Baltimore County for an auctioneer licensed by the county.

What the bond guarantees

An auctioneer holds other people's property and money for a stretch of time: consigned goods before the sale, and buyer payments until the seller is settled. The $5,000 bond backs the auctioneer's obligation to follow the county's auctioneer rules while handling that property and those proceeds. If a seller or buyer loses money because the licensed auctioneer fails that obligation, a claim can be made on the bond. The surety pays valid claims up to $5,000 and then collects the amount back from the auctioneer, so the bond protects the public rather than the auctioneer.

Before you file

Baltimore County sets the application, the license term and the filing steps. Before the bond is issued, confirm with the county which bond form it accepts and when the bond has to be filed, then have the bond written in exactly the name that appears on your license application. A mismatch between the two is the usual reason a bond gets sent back.

Eligibility and Requirements for a Maryland Auctioneer ($5,000) Bond:

• Bond amount of $5,000.
• Baltimore County, Maryland named as obligee.
• Principal name on the bond matching the county license application exactly.
• A surety company authorized to write bonds in Maryland.
• Continuous coverage for the life of the license. A cancelled bond leaves the license without its required security.

Maryland Auctioneer ($5,000) Bond FAQs:

Official and Additional Resources for the Maryland Auctioneer ($5,000) Bond: