OH 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. The application collects no credit information.

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Required for your Ohio auction firm license — Department of Agriculture, R.C. 4707.074

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Fixed $50,000 amount, $500 flat — filed on the state’s Auction Firm Bond Statement

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Multi-year terms available — though the firm bond renews on the statutory June 30 cycle

A-ratedA.M. Best carriersInstantunderwriting process1–3 yrterms available

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How it works

Three steps to licensed.

Your auction firm license is waiting on this bond. Here's the entire process:

TODAY · ONLINE

Apply online

Firm details and an effective date. That is the application — no financials, no credit section.

MINUTES, USUALLY

Pay & e-sign

License bonds like this are among the thousands that issue right after purchase. At most, 1–2 business days.

SAME DAY

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.

About this bond

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.

R.C. 4707.074 (Auction Firm Bond Statement)Ohio Revised Code 4707.074 requires an auction firm to file a $50,000 surety bond as evidence of financial responsibility with its license application to the Department of Agriculture, executed by a surety authorized to do business in Ohio, on the state's Auction Firm Bond Statement. Confirm the amount and form on your application.

You need this bond if you're

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Applying for an Ohio auction firm license — the bond is filed with your application

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Renewing your firm license and your current bond is expiring or non-renewing

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Forming an auction company that conducts auctions as a business entity

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An out-of-state firm getting licensed to run auctions in Ohio

One application, issued instantly.

These are the actual issuing fields — no credit section, because this bond's application doesn't collect credit information.

Start the application →

FAQ

Common questions.

How much is the Ohio auction firm bond?The premium is $500 flat, set by our carrier for this bond, the same for every firm. The $50,000 bond amount is set by statute, so there is no quote process.

Do I pay the $50,000?No. You pay $500. The $50,000 is the surety's maximum liability if a valid claim is made — not a deposit, and nobody holds your money.

Who requires this bond?The Ohio Department of Agriculture, as a condition of an auction firm license under R.C. 4707.074. The bond is filed as evidence of financial responsibility on the Auction Firm Bond Statement.

Is there a credit check?The application collects no credit information at all, and most fixed $50,000 auction firm bonds like this approve instantly. If a quick check ever runs, it's a soft pull only and never affects your credit score.

When does it renew?The auction firm bond is subject to a statutory June 30 renewal cycle — you can buy a 1, 2, or 3-year term, and we send renewal notices 60 and 30 days out so your license never lapses over a missed email.

Related bonds

Other Ohio bonds.

The Department of Agriculture is waiting on one document.

$500 flat, no credit review, bond often issued in the same sitting. Free until issued.

Start application

Your price$500

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