Ohio auction firm bonds.
$500 flat.
Ohio requires every licensed auction firm to file a $50,000 bond as evidence of financial responsibility with the Department of Agriculture, under R.C. 4707.074. Ours is $500 flat, identical for every firm. No credit check.
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How much does an Ohio auction firm bond cost?
$500 at the $50,000 amount, the same for every applicant.
Three steps to licensed.
Your auction firm license is waiting on this bond. Here's the entire process:
Apply online
Firm details and an effective date. That is the application. No credit check.
Pay & e-sign
License bonds like this are among the thousands that issue right after purchase.
File with the Department of Agriculture
Your executed bond arrives on the Auction Firm Bond Statement, ready to file with your license application. Wet-ink original mailed on request.
What it is and who needs it.
What the bond actually guarantees
Ohio licenses auction firms through the Department of Agriculture, and R.C. 4707.074 requires a firm to file a $50,000 surety bond as evidence of financial responsibility with its license application. The bond is filed on the state's Auction Firm Bond Statement.
It's a consumer-protection guarantee: it stands behind the firm's compliance with Ohio auction law (Chapter 4707) and the proper handling of sale proceeds. If a firm fails to remit money owed to a seller or buyer or otherwise violates the auction statute, the harmed party can recover against the bond up to $50,000.
It is not insurance for you. If the surety pays a valid claim, you repay the surety. Firms that handle proceeds properly and follow the auction law treat the bond as a license formality, not a risk.
You need this bond if you're
Claims, renewal, filing, and what sets the price.
If a claim is made
A claim comes from the party the bond protects, the obligee named on the form, when the duty the bond guarantees is not met.
The surety investigates and pays a valid claim, up to the $50,000 bond amount. You then repay the surety: a surety bond is a guarantee of your performance, not insurance for you.
Renewal and term
The term is set on the carrier’s application; the premium covers the period shown there.
Renewal falls on the statutory date, June 30, in the year your term ends.
Renew before the expiry date to keep the bond in force: the license, permit or contract it backs expects continuous coverage.
How to file it
File with the Department of Agriculture. Your executed bond arrives on the Auction Firm Bond Statement, ready to file with your license application. Wet-ink original mailed on request.
What sets the price
The premium is fixed at $500 at the $50,000 amount for every applicant: the carrier’s rate book prices this bond by the form, not by your credit or your business profile.
No credit check.
One application, issued instantly.
These are the actual issuing fields. No credit check.
Start the application →Common questions.
Other Ohio bonds.
Been told you need a different amount?
Price and requirements checked on the carrier’s application, . Page updated .
The Department of Agriculture is waiting on one document.
$500 flat, no credit check, bond often issued in the same sitting. Free until issued.