Pursuant to state statute, any person who is engaged in the pawn brokerage industry must fulfill specific licensing requirement, among them the filing of a Florida pawnshop bond. The Florida Pawnbroking Act defines a party making pawns as, "any person who is engaged in the business of making pawns; who makes a public display containing the term “pawn,” “pawnbroker,” or “pawnshop” or any derivative thereof; or who publicly displays a sign or symbol historically identified with pawns. A pawnbroker may also engage in the business of purchasing goods which includes consignment and trade."
The applicant candidate must prove a minimum net worth or must file a Florida pawn broker surety bond issued by a surety company qualified to do business in the state in the amount of ten thousand dollars ($10,000). Each store must file a separate surety bond to secure the obligations of its license. The original bond must be delivered to the Florida Department of Agriculture and Consumer Services on a form adopted by agency rule. The Department must be the beneficiary (obligee) on the surety bond document. The instrument guarantees compensation to a consumer who is injured by the fraud, misrepresentation, breach of contract, financial failure, or violation of the statute by the pawnbroker. The Department offer helpful Q&As on its Florida pawnbroker portal. Application materials and the Florida pawnshop bond should be delivered to:
Florida Department of Agriculture and Consumer Services
Plaza Level 10, The Capitol
400 S. Monroe St.
Tallahassee, FL 32399-0800
Florida 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 Florida pawnshop surety bond need.
Surety bond application review and quoting are free of charge. There is no obligation to purchase.