California Pawnbroker Bond
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How Does a California Pawnbroker Bond Work?
A California pawnbroker bond establishes a legal agreement between three parties:
- Principal: The pawnbroker responsible for purchasing and upholding the bond
- Surety: The provider issuing the bond to the principal
- Obligee: The DOJ Secondhand Dealer & Pawnbroker Unit requiring the bond
If a pawnbroker violates state laws or regulations, harmed parties can file a claim against the bond to recover financial losses. The bond amount varies depending on the specific requirements set by the state.
How Much Does a California Pawnbroker Bond Cost?
Pawnbrokers in California are required to get either a $20,000 or $100,000 surety bond. If you can prove a net worth of $100,000, you’re eligible for the $20,000 bond. Otherwise, you’ll need to purchase a $100,000 pawnbroker bond.
A $20,000 California pawnbroker bond typically costs $350 for a two-year term. However, exact pricing varies based on each applicant’s qualifications. For a $100,000 bond, the price fluctuates based on credit score, often ranging from 1% to 6%.
What Is a California Pawnbroker Bond?
The California Department of Justice mandates a California pawnbroker bond for individuals or businesses involved in pawnbroking activities within the state. This bond protects both the state and consumers from possible illegal or unethical behavior by pawnbrokers, such as fraud, theft or embezzlement.
How Do I Get a Pawnbroker Bond in California?
SuretyBonds.com provides the fastest and easiest way to get a pawnbroker bond. Just follow these simple steps:
- Apply online at SuretyBonds.com
- Get a free quote within one business day
- Purchase your California pawnbroker bond online
- Receive your official bond immediately via email
How Fast Can I Get a Pawnbroker Bond?
You can get your California pawnbroker bond as soon as the next-day with SuretyBonds.com. Once you apply, we’ll provide a quote within one business day. You can buy your bond online any time and receive it instantly via email.
Have Questions?
Call 1 (800) 308-4358 to talk with a Surety Expert today.
