The New Jersey Pawnbroker Bond is required by the State of New Jersey Commissioner of Banking and Insurance in the amount of $1,000 for the year. The surety bond is one of the requirements in order to get a Pawnbroker license. If you are someone who lends money on the deposit or pledge of personal property or to purchase personal property on condition of selling it back at a stipulated price.
How to Get a New Jersey Pawnbroker Bond
At Surety1.com we make it easy to obtain this surety bond. Our simple, three step process is:
- Complete the easy to navigate and secure online application. 1
- Review the free, no obligation quote from one of Surety1’s professional surety bond agents, usually within one business day.
- Sign some paperwork and pay the bond premium
Once these steps have been completed, the Surety Bond will be shipped to the bond applicant. The cost of the surety bond is usually $150.00. Multi Year Discount may be available.
1 -The name of the applicant on the surety bond application must match exactly the full legal business name of applicant for the license.
Surety1.com is a service of AssuredPartners one of the largest and fastest growing insurance agencies in the nation. Representing over a dozen surety bond companies, Surety1.com is the premier online provider of surety bonds nationwide since 2003 and maintain an A+ rating by the Better Business Bureau.
How to Get a New Jersey Pawnbroker License
The following must be submitted to the New Jersey Department of Baking and Insurance Licensing Services Bureau.
- A completed Application Form
- Copy of Certificate of Incorporation/Formation
- Copy of the registration of alternate/ fictitious name bearing the dated filing of the Treasurer of the State of New Jersey
- Financial statements
- Payment of $500 for the fee
- An audited financial statement
- A copy of an insurance policy demonstrating adequate liability and fire insurance coverage to cover any pledge in the event of loss by fire, theft, burglary or otherwise
- Must undergo the fingerprinting process, an evidence must be attached
- A New Jersey Pawnbroker Bond in the amount of $1000