How much does a pawn shop bond cost in Washington D.C.?
The District of Columbia Department of Consumer and Regulatory Affairs requires pawnbrokers to post $5,000 surety bonds.
SuretyBonds.com offers these 2-year bonds for just $175. No credit check is required, so everyone qualifies for this low rate instantly. What are you waiting for? Click here to purchase your D.C. pawn bond!
|Bond Type||Bond Amount||Cost*|
|$5,000 Pawnbroker Bond - 2-year term||$5,000||$175 for 2 years||Buy Now|
You can get bonded instantly for just $175 by calling 1 (800) 308-4358, or by requesting your bond online now!
Why do I need this bond?
Washington, D.C. pawnbroker bonds ensure that principals (pawnbrokers) comply with applicable laws that regulate the pawnbroker industry in the district. Prohibited acts under this bond include, but are not limited to:
- using false or misleading advertising
- using pawned property as loans or liens without permission to do so
- publicizing as or acting as a pawnbroker without a license approved by the mayor of the District of Columbia
If the principal fails to adhere to statutes as outlined on the bond form, harmed parties can make a claim to recover losses. Valid claims are paid by the surety company up to the full bond amount. The principal must then reimburse the surety for any claims paid out.
What’s the fine print?
Washington, D.C. pawn shop bonds are issued for 2-year terms that run concurrently with the pawnbroker’s business license. These bonds remain continuous until canceled.
How to become a pawnbroker in Washington DC
Purchasing a $5,000 pawnbroker bond is just the first step in becoming a licensed pawnbroker in Washington, D.C. The following must also be provided when submitting a licensing application:
- $70 application fee
- $25 endorsement fee
- corporate registration
- basic business license application
- clean hands self-certification
- tax number
- certificate of occupancy
- Metropolitan Police Department interview
- pawn record ledger
- pawn tickets
- police criminal history report
- and more
Ready to get started?