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:
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).
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.