Nassau County Precious Metals and Gems Dealer Bond Guide
If you’re becoming a precious metals dealer in Nassau County, New York, you’ll likely need this surety bond.
Bond Overview
- Purpose: To provide financial recourse for any customers harmed by a fraudulent dealer
- Who Needs It: Dealers of precious metals and gems in Nassau County
- Regulating Body: The Nassau County Department of Consumer Affairs
- Required Coverage: $5,000
- Premium Rate: $100
Learn all about the bond requirements and process in this guide.
What Is a Nassau County Precious Metals and Gems Dealer Bond?
A Nassau County precious metals and gems dealer bond ensures dealers conduct business ethically and lawfully to protect the public from financial harm.
If a precious metals dealer commits fraud, theft or otherwise breaks their license regulations, the surety will compensate harmed parties.
How Much Do Precious Metals and Gems Dealer Bonds Cost in Nassau County?
A $5,000 Nassau County precious metals dealer bond costs a flat rate of $100. No credit check required!
Click below to buy your bond in minutes.
SuretyBonds.com offers the lowest available rates from our nationwide provider network with no added fees.
Who Needs a Precious Metals and Gems Dealer Bond?
The Nassau County Department of Consumer Affairs requires this bond as part of the licensing process for precious metals and gems dealers.
Working outside of Nassau County? Visit our New York Precious Metals and Gems Dealer Bond Hub to see all similar bonds.
How Do I Get My Bond?
With SuretyBonds.com, you can buy your Nassau County precious metals dealer bond instantly online. Just enter your information and checkout in minutes.
We’ll mail you the bond via your preferred shipping method. Be sure to file the bond with the Department of Consumer Affairs as instructed.
If you have any questions, call our friendly surety experts at 1 (800) 308-4358 for assistance.
How Does a Precious Metals Dealer Bond Work?
As with all surety bonds, a precious metals dealer bond creates a legal contract between three parties:
- Principal: You, the precious metals and gems dealer filing the bond
- Obligee: The Nassau County Department of Consumer Affairs requiring the bond
- Surety: The provider issuing the bond
This holds you financially responsible for upholding local ordinances and operating responsibly.
If you break the bond terms, harmed parties can file claims. The surety will pay valid claims up to the bond amount, but you are ultimately responsible for refunding the surety.
How Do I Renew My Bond?
These bonds expire annually. To renew your precious metals dealer bond, simply pay your renewal invoice when prompted.
After renewing, you’ll receive a continuation certificate to file with as proof of ongoing coverage.
