What is the significance of having a written, signed contract in auction operations in Georgia?

The requirement for a written, signed contract in auction operations in Georgia is significant because it establishes a clear and enforceable agreement between the auctioneer and the parties involved. This contract serves as proof of the terms and conditions agreed upon, including details such as commissions, auction dates, and responsibilities of each party, which helps prevent disputes. In Georgia, having a written contract is not just a best practice; it is legally necessary for auctioneers to operate effectively and within the law. This legal backing ensures that all parties know their rights and obligations, providing a foundation for accountability and transparency in the auction process.