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.
What are the other requirements for the 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 surety bond in the amount of $1000
Where can I get a New Jersey Pawnbroker Bond?
Complete our easy to navigate online application. Within one business day, one of our licensed agents will contact you with a no-obligation quote for your bond (the “premium”). Once any necessary paperwork is signed and the premium payment is processed, your surety bond will be shipped to you via USPS Priority Mail (overnight shipping options also available).
The surety bond experts at Surety1 are here to help you get bonded quickly and reliably. We work with over a dozen “A” rated surety markets to ensure we find you the lowest rate for your bond. We are also licensed in all 50 states and maintain an A+ rating by the Better Business Bureau.