North Carolina Pawnbroker License Bond Guide
All counties in North Carolina require a $5,000 bond for pawnbroker licensing. Use this guide to learn more about the bonding process.
Bond Overview
- Purpose: To ensure that pawnbrokers follow the law when doing business
- Who Needs It: All pawnbrokers in North Carolina
- Regulating Body: The county office where the business is located
- Required Amount: $5,000 per county
- Premium Rates: $100 for a 1–year term
What Is a North Carolina Pawnbroker License Bond?
A North Carolina pawnbroker license bond holds pawnbrokers financially responsible for damages to collateral during the loan repayment period. It also protects the public from harm if a pawnshop owner makes illegal transactions or is noncompliant with licensing laws.
How Much Do Pawnbroker License Bonds Cost in North Carolina?
All North Carolina counties require a $5,000 pawnbroker license bond. Premium rates cost just $100 for a 1-year term. You can also save up to 25% by selecting the multi-year term. Click below to buy online in minutes.
SuretyBonds.com offers the lowest available rates from our nationwide provider network with no added fees.
How Does a North Carolina Pawnbroker License Bond Work?
A North Carolina pawnbroker license bond binds the following three parties in a legal agreement:
- Principal: The pawnbroker filing the bond
- Obligee: The county requiring the bond
- Surety: The provider issuing the bond
If you, as the principal, violate the bond terms, the surety company will pay valid claims up to the $5,000 bond amount. However, it is your responsibility to reimburse the surety company.
Who Needs a Pawnbroker License Bond?
Every pawnbroker in North Carolina needs a bond. Each county requires a separate bond and license, so if you’re operating in more than one county you will need to file multiple bonds.
How Do I Get a Pawnbroker License Bond in North Carolina?
SuretyBonds.com provides the fastest and easiest way to get a pawnbroker license bond. Buy your bond(s) instantly using the forms above.
After you checkout, select your preferred shipping method. Upon receipt, sign the form and file it with the appropriate county office.
Can I Get Bonded With Bad Credit?
Yes! This bond is available for instant purchase with no credit check.
How Do I Renew My Pawnbroker License Bond?
Depending on your term selection, your bond will last for 1-3 years. When your renewal date approaches, a SuretyBonds.com representative will send you a renewal invoice. To extend your bond term, simply pay the invoice.
How to Become a Licensed Pawnbroker in North Carolina
All pawnbrokers in North Carolina must get a license from the county in which they plan to do business. To be eligible for a pawnbroker license, you must:
- Demonstrate good character
- Have no felony convictions in the past 10 years
If you meet the eligibility requirements, submit this information to your local county agency to apply for a license:
- The names and addresses of every employee
- The name and address of your business
- A statement indicating the amount of money you will be using to run the business
- An affidavit confirming that you have no felony convictions
- A certificate from the chief of police, sheriff of the county, or the State Bureau of Investigation confirming that you have no felony convictions
Once all of your information and documents are approved by the county, file your bond to get your official license.
Note: If you break the law in any way, the county you are licensed in reserves the right to revoke your license.
