WA Appraisal Management Company Bond

Washington Appraisal Management Company Bond Requirements

Washington requires appraisal management companies (AMCs) to obtain a surety bond to operate in the state. The bond ensures that AMCs comply with all provisions of Chapter 18.310 RCS and with all rules and regulations adopted by the Director of the Department of Licensing.

The bond amount required for AMCs in Washington is set by the Department of Licensing and varies based on the size and scope of the company's operations. AMCs must maintain the bond throughout their licensure in the state.

Obtaining the WA Appraisal Management Company Bond

To obtain the required surety bond, AMCs must work with a licensed surety bond provider. The provider will assess the company's financial stability and risk profile to determine the bond premium.

Once the bond is in place, AMCs must ensure that the bond remains active and in good standing with the Department of Licensing. Failure to maintain the bond can result in suspension or revocation of the company's license.