Pawnbroker Surety Bonds for Municipal Licenses (City/County Pawn Shop Bonds)

Bond Penalty: Varies by locality

A pawnbroker surety bond is required by many municipalities before a pawn operator may commence business. The local permit bond amounts are generally small and guarantee that the pawnbroker will comply with license maintenance requirements and follow those rules of conducting business within the jurisdiction of the licensing authority. Some bond obligations contain provisions that protect third parties from damages resulting from the pawnbroker's inappropriate acts and omissions. Duties of a pawnbroker secured by the surety bond may include:

  • Receipt of property on pawn and securely warehousing pledged property.
  • Maintenance of proper business records.
  • The filing of periodic required reports with the licensing authority.
  • The prompt return of pledgor's property in the condition in which it was received.
  • Following appropriate statutory procedures when forfeiting property.

It is important to keep in mind that over twenty states require a pawnshop bond from operators. Filing of a surety bond with a city, township, village or county generally does NOT exempt the pawn operator from compliance with state laws. The following are municipalities that require an operator to file a bond and the current surety bonds amounts (amounts may change without notice).

  • City of Clifton Pawnbroker Bond, bond amount varies
  • City of Colorado Springs Pawnbroker Bond, bond amount $2,000
  • City of Englewood Pawnbroker Bond, bond amount $5,000
  • City of Milwaukee Pawnbroker Bond, bond amount $500
  • City of Minneapolis Pawnbroker Bond, bond amount $5,000
  • City of New Rochelle Pawnbroker's Bond or Collateral Loan Bond, bond amount $1,000
  • City of New York Pawnbroker Bond, bond amount $10,000
  • City of St. Paul Pawnbroker Bond, bond amount $5,000
  • Oklahoma City Pawnbroker Bond, bond amount $1,000

If you would like to review the state-require bond applications you may access them here. Interested in pawnbrokering history, the three golden balls and Saint Nicholas? Check out "The Pawnbroker".

National surety bond leader, Surety One, Inc. is a specialist in the bonding needs of the pawnbroker sector. We offer surety bonds and fidelity bonds (employee dishonesty 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 pawnbroker surety bond need.

Surety bond application review and quoting are free of charge. There is no obligation to purchase.

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