Washington Appraisal Management Company (AMC) Bonds
Washington Appraisal Management Company (AMC) Bond Information
An Appraisal Management Company Bond is a type of surety bond required by the Washington Real Estate Appraisal Management Company Program, Department of Licensing for those who have made application for an Appraisal Management Company License to the Business and Professions Division of the state of Washington for conducting business as an Appraisal Management Company within the state of Washington. The surety bond mandates compliance with the provisions of Chapter 18.310 RCW of the state of Washington and all rules and regulations adopted by the Director of the Department of Licensing. Furthermore, the bond covers amounts that may be adjudged against bonded principal due to violation of statutes, rules or regulations set forth by the state pertaining to business conduct as an Appraisal Management Company.
How Much Does an Appraisal Management Company Bond Cost in Washington?
Getting Your Washington Business License or Registration
Requirements for a Washington Appraisal Management Licenses
- Have a business license issued through the Washington State Department of Revenue
- Appoint one individual as the designated controlling person
- Have the designated controlling person and each owner of 10% or more of the company submit fingerprints for the required background checks
- Furnish a $100,000 surety bond
Application Steps for a Washington Appraisal Management License
- Complete an Appraisal Management Company Application
- Furnish an Appraisal Management Company Surety Bond
- Have the designated controlling person and each owner of 10% or more of the company complete an Appraisal Management Company Controlling Person and Owner Registration.
- Mail completed forms and check or money order for the application fee (payable to the Department of Licensing) to: Appraisal Management Company Program, Department of Licensing, PO Box 3917, Seattle, WA 98124–3917