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Washington Auctioneer and Auction Company Bonds

What is a Washington Auctioneer or Auction Company Bond?

Auctioneers and Auction Companies making application for a license with the Business and Professions Division of the State of Washington for carrying on the business of Auctioneering in Washington are required by Chapter 18.11 RCW to furnish a surety bond. The surety bond protects any person damaged by the bonded principal's violation of Chapter 18.11 RCW or any rules or regulations adopted by the Director of the Department of Licensing. Any amounts that may be adjudged against the bonded principal in the conduct of principal’s business as an auctioneer or auction company must be satisfied in full in order for the bond obligation to be considered null and void. The Business and Professions Divisions must be notified 30 days prior to the cancellation of this surety bond.

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