Appraiser Bond

An appraiser bond is a form of insurance that can be purchased by appraisers in order to assure that they are complacent with laws and regulations mandated within their field. This form of bond is important for both the appraiser and the person looking to make a purchase. The buyer can be assured that the appraiser is providing a fair price estimate and not going over the fair estimate in order to make any extra profit. It ensures that the buyer will be able to avoid fraud, contract default or any other potential risks before they make a purchase. By purchasing appraiser bonds, the appraiser gains credibility and also is able to provide a level of comfort to the potential buyer.

The numerous laws and regulations that are now required for appraisal companies deems it necessary for appraisal bonds to be purchased. Without these bonds, the company will be unable to obtain licenses for legal operation in their region. This licensing and permit bond will prove that the agents represented by the company will follow any and all laws and regulations, which will in turn prove that the company is faithful to its customers.

Providing proof of compliance is not only a great way to ensure customers that the company will remain fair and truthful, but also promotes the company to a higher standard. This will allow companies and private appraisers to stand out amongst consumers looking for the right choice to provide their appraisal.


Application for


Current or expiring quote we are looking to beat:


Name of previous surety company writing to the bond:


Section I: Bond Applied for

Type of Bond

Effective Date

Expiration Date


Type of Company

CORP

LLC

DBA

Partnership

Bond Amount


(Obligee)


Obligee Address


Section II: General Information

Applicant's Name

Spouse Name


SS#

Spouse SS#

Home Phone


Residence Address

City

State

Zip


Status of Residency

Own

Rent

At Current Address Since


Date of Birth

Spouse Date of Birth

Business License Number


Business Name


Business Phone

Business Fax

Business Email


Business Address

City

State

Zip


Date Business BEGAN Under Present Individual or Firm Name

Business Tax ID


Has any company refused to issue bonds for any purpose?

Yes

No

Do you have any liens, claims or judgements against you?

Yes

No


Has applicant ever failed in business?

Yes

No

Has applicant filed bankruptcy in the last 10 years?

Yes

No


If yes, Chapter 7?

Yes

No

Chapter 11?

Yes

No

Chapter 13?

Yes

No


Date Filed for Bankruptcy?


Date of Discharge?


If yes to any, please explain:


Section III: Additional Parties

Name

Spouse Name


SS#

Spouse SS#

Home Phone


Home Address

City

State

Zip


Personal Financials

(if more than one owner, each has to fill out this app)

Statement of assets and liabilities as of


Assets Liabilities
Cash in Bank Notes Payable to Banks
Cash on Hand Notes to Others(excl. of equipment)
Stocks and Bonds Accounts Payable
Accounts Receivable Federal and State Income Tax Due
Notes Receivable All Other Taxes
Inventory Accruals, Payrolls, Etc.
Cash Value Life Insurance    
Equipment Due on Equipment
Real Estate Due on Real Estate
Other Assets Other Liabilities
    Surplus and Undivided Profits
    Capital Stock(if a corporation)
       
Total Assets Total Liabilities

Net Worth


Name of Owners

Name and Title of Officers

% of Ownership


Are you an insurance agent?

Yes

No

Agent License #

Agent State

Completion of this form constitutes permission for Cal Society Insurance Services to obtain customer information which will be used to determine bonding eligibility. This information will be held in the strictest confidence.