Michigan Pawnbroker Bonds
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What Are Michigan Pawnbroker Bonds?
Michigan pawnbroker bonds, also known as junk dealer bonds, ensure that pawnshops follow licensing regulations and operate honestly. They protect government entities and consumers from financial harm if a pawnbroker is fraudulent or noncompliant with licensing laws.
How Much Does a Pawnbroker Bond Cost in Michigan?
Michigan pawnbroker bonds cost a flat rate of $100 per year for all applicants. Or, you can save 25% per year by selecting a multi-year term. Select the bond you need below to buy your bond instantly online.
SuretyBonds.com does not charge any additional brokerage fees.
Who Needs a Pawnbroker/Junk Dealer Bond in Michigan?
Michigan has the following surety bond requirements for pawnbrokers and secondhand dealers:
- City of Detroit Junk Dealer Bond
- City of Detroit Pawnbroker or Second Hand Jewelry Bond
- City of Utica Pawnbroker Bond
- City of Warren Pawnbroker License Bond
If you work in any of the cities listed above, purchasing a bond is required as a part of the pawnbroker licensing process. Pawnshop bonds provide a financial guarantee that you will follow all license stipulations. If you violate those terms, the surety provider will compensate claimants up to the full bond amount.
How Do I Apply for a Michigan Pawnbroker Bond?
With SuretyBonds.com, you can get your Michigan pawnbroker bond in minutes. Just follow these three steps:
- Select the bond you need.
- Checkout instantly online.
- Receive your bond documentation via email.
Once you receive your bond, file it with the government licensing agency requiring the bond to become officially bonded.
Have Questions?
Call 1 (800) 308-4358 to talk with a Surety Expert today.
