The New York Auction House Bond is required by the City of New York, Department of Consumer Affairs. The bond amount is set at $2,000. Any business that engages in auctioneering, selling at auction, must first have an Auction House License.
The bond ensures that the bondholder will comply with the terms and conditions of the license. In addition, they shall obey and conform to the laws of the State of New York.
What are the requirements in order to get an Auction House license?
Before you file your application for an Auction House license, you must first obtain the applicable business certificate. This will depend on your business’s legal structure.
When you file your application with the Department of Consumer Affairs, online or in person, include the following:
- Completed application form
- Sales Tax Identification Number or Certification of Authority Application Confirmation Number
- Child Support Certification form, if applicable
- Granting Authority to Act Affirmation, if applicable
- Fingerprints and Processing fee
- License fee
- The license term is two years
How to get a New York Auction House Bond
At Surety1.com we make it easy to obtain this surety bond. Our simple, three step process is:
- Complete the easy to navigate and secure online application. 1
- Review the free, no obligation quote from one of Surety1’s professional surety bond agents, usually within one business day.
- Sign some paperwork and pay the bond premium
Once these steps have been completed, the New York Auction House 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.