Arizona Appraisal Management Company Bond

An Arizona Appraisal Management Company Bond, commonly referred to as an Arizona AMC Bond, is a type surety bond required by the Arizona Department of Financial Institutions (DFI) for all AMCs operating in the state. The cost of the surety bond is usually between 1% and 3% of the bond amount. Surety1 will shop its many markets to procure the right price at the right terms.

The bond is in the amount of $20,000 and guarantees that the AMC will:

• Pay all amounts owed to persons that perform appraisal services for the AMC.
• Pay all amounts adjudged against the AMC as a result of negligent or improper services or breach of contract in performing real property appraisal services or appraisal management services.

If the surety company pays a claim on the bond, it will seek restitution from the bond principal (licensee).

How to Get a Arizona Appraisal Management Company Bond

At Surety1.com we make it easy to obtain this surety bond. Our simple, three step process is:

1. Complete the easy to navigate and secure online application. ¹
2. Review the free, no obligation quote from one of Surety1’s professional surety bond agents, usually within one business day.
3. Sign some paperwork and pay the bond premium

Once these steps have been completed, the Arizona Appraisal Management Company Bond will be shipped to the bond applicant.
^{1 -The name of the applicant on the surety bond application must match exactly the full legal business name of applicant for the license.} 

Surety1.com is a service of AssuredPartners one of the largest and fastest growing insurance agencies in the nation. Representing over a dozen surety bond companies, Surety1.com is the premier online provider of surety bonds nationwide since 2003.

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How to Get an Arizona AMC License

To get an Arizona AMC license, you must follow these steps:

1. Complete the application packet. The application packet can be found on the Arizona Department of Financial Institutions (DFI) website. The packet includes the following forms:
   • Application for Registration as an Appraisal Management Company (AMC)
   • AMC Certification
   • Disclosure Statement
   • Financial Statement
2. Submit the application packet to the DFI. The application packet can be submitted electronically or by mail. The mailing address is:
   

   Arizona Department of Financial Institutions Licensing Division
   1801 W. Jefferson Street
   Phoenix, AZ 85007

3. Pay the application fee. The application fee is $2,500.
4. Meet the experience and education requirements. The controlling person of the AMC must have at least two years of experience in the appraisal industry and must have completed at least 24 hours of appraisal education within the past two years.
5. Pass the AMC licensing exam. The AMC licensing exam is a two-hour, 100-question exam that covers the following topics:
   • Arizona appraisal laws and regulations
   • Appraisal management practices
   • Ethics and professional conduct
6. Obtain an Arizona Arizona Appraisal Management Company Bond. The Arizona AMC bond is a $20,000 surety bond that guarantees that the AMC will pay all amounts owed to persons that perform appraisal services for the AMC and will pay all amounts adjudged against the AMC as a result of negligent or improper services or breach of contract in performing real property appraisal services or appraisal management services.

Once you have completed these steps, you will be issued an Arizona AMC license. The license is valid for two years.

For more information on licensing, contact the Arizona Department of Financial Institutions (DFI).