Estate Sale Company – Bonded?

To educateThere are several types of bonds, but two that most estate sale companies will use.

The fidelity bond which has two types – one first-party protects against fraud, theft and wrongful acts committed by employees and the third-party which protects against wrongful acts by consultants or independent contractors.

The surety bond in simplistic terms guarantees performance.

Many estate sale companies advertise that they are bonded and insured. This is not necessarily required (depends on the state and community), but it is good protection for sellers and estate sale companies.

When you are looking at estate liquidators during the telephone interview ask if they have a bond, what type, and are they insured. Protection for all is always a wise choice.