An Appraisal Management Company Surety Bond is a type of Oregon surety bond issued for the exclusive purpose of securing financial obligations and business conduct of persons who perform real estate appraisal activity in Oregon. The surety bond covers all work done by the bonded principal as an appraisal management company, as defined in ORS 674.200, ensuring compliance with all provisions of state statute and rules set forth, including paying all amounts that may be ordered by the Board against the bonded principal by reasons of failing to comply with ORS 674. The surety bond is also issued to protect against judgments filed with the Board due to improper real estate appraisal activity or unethical appraisal management services or breach of contract in performing these services by the bonded appraisal management company in accordance with ORS 674.210.
