Connecticut Secondhand Dealer Bond
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How much does a $10,000 pawnbroker bond cost in Connecticut?
Surety bonds for Connecticut pawnbrokers, secondhand dealers, or precious metals and stones dealers cost just $100 for one-year of coverage. Simply click Buy Now to purchase your bond online using our secure bond checkout. In just a few minutes you can be on your way to getting bonded as a secondhand dealer in Connecticut.
Why do I need this bond?
The Connecticut Department of Emergency Services and Public Protection requires secondhand dealers, pawnbrokers and precious metals and stones dealers to post $10,000 surety bonds to legally work within the state. By posting a Connecticut secondhand dealer’s surety bond, principals (secondhand dealers/pawnbrokers) pledge to conduct business in compliance with the state and federal laws and regulations relating to the business. Specifically, the bond protects any person who suffers loss as a result of the dealer’s unlawful business practices.
What’s the fine print?
Secondhand dealer bonds in Connecticut remain in full force and effect unless canceled or violated. The surety can cancel the bond by giving 30 days’ written notice of cancellation via registered or certified mail to the principal and to the Commissioner of the Department of Emergency Services and Public Protection.
How to become a secondhand dealer, pawnbroker, or precious metals and stones dealer in Connecticut
To become a licensed secondhand dealer, pawnbroker or precious metals and stones dealer in Connecticut, applicants must adhere to the following requirements:
- Complete application for licensing under C.G.S. Chapter 409 (DPS-403-C)
- Complete appropriate advisement of requirements form(s) (DPS-404-C1, DPS-405-C1 and DPS-405-C) for each license being applied for
- Notarize all forms
- Submit to state and national criminal history check
- Provide required fingerprints
- Pay required licensing and background check fees