License & Permit
Pawnbroker Bond
A pawnbroker bond is a surety bond some states require of pawnshops, often as an alternative to meeting a minimum net worth.
- Required by
- State pawnbroker regulators (in Florida, the Department of Agriculture and Consumer Services)
- Bond amount
- Set by whoever requires the bond. We confirm it.
What this bond guarantees
The bond guarantees the pawnbroker will follow the state pawnbroking law. Customers or the state may claim for losses caused by violations. Requirements differ from state to state.
Who needs it
- Pawnshop owners
- Pawnbrokers opening an additional location
What the underwriter looks at
- Owner's net worth
- Number of licensed locations
- Owner credit
Requirements vary by state and by who asks for the bond. Send us the request you received and we will confirm exactly what it calls for.
Common questions
Does Florida require a pawnbroker bond?
Florida section 539.001 requires either a net worth of at least $50,000 or a $10,000 bond for each license. A certificate of deposit or letter of credit may replace the bond.
My Alabama pawnshop processes titles. Do I need a bond?
Yes, if you are a designated agent for the Alabama Department of Revenue. See the designated agent bond.