Pursuant to DC Code (47-2884), pawnbroker means, "any personal who lends or advances money or other things for profit on pledge and possession of things of value or property belonging to another (excluding securities or instruments of sale and transfer of real property) conditioned on selling those things back to the same person at a specific price. No party may engage in said business without first obtaining a license form the Mayor's office. Among other requirements, a DC pawn broker bond must be filed along with evidence of at minimum twenty thousand dollars ($20,000) in cash reserve.
The license candidate must procure a DC pawn broker surety bond in the amount of five thousand dollars ($5,000) issued by a fidelity or surety company authorized by the laws of the United States ("T-listed") to transact business in the District. The surety bond guarantees compliance with the regulations of the DC Department of Consumer and Regulatory Affairs in accordance with the laws of the District of Columbia. The issuance and filing of the surety bond must coincide with the applicant's license year, ending not more than two years from the effective date of the same. The obligation indemnifies the District and any person aggrieved by the violation of any law or regulation in relating to the pawn business. Application materials and the DC pawn broker bond should be delivered to:
Department of Consumer and Regulatory Affairs
Pawn Broker Unit
1100 4th Street, SW
Washington, DC 20024
DC surety bond leader, Surety One, Inc. is a specialist in the bonding needs of the pawn industry. We offer both surety and fidelity bonds in support of pawn and secondhand goods operators in all fifty states, Puerto Rico and the U.S. Virgin Islands. Contact us at (800) 373-2804, Underwriting@SuretyOne.com or click here for a live chat about your DC pawn broker surety bond need.
Surety bond application review and quoting are free of charge. There is no obligation to purchase.