The Virginia Pawn Broker Bond is a requirement for all who would like to be licensed as a pawnbroker in the state. It guarantees that the pawnbroker will follow regulations provided in the state, such as not selling items before the allotted time is up. The bond also ensures that the amount of interest is within regulations with the state.
Unlike insurance, the bond is in place to protect the public from you. If there is a claim placed on your bond and you are found at fault the surety company will issue a payout, however, you will have to pay them back. The amount of the surety bond is $50,000.
Aside from the $50,000 surety bonds, the applicant must also furnish his date of birth, a sworn statement disclosing any criminal convictions or pending criminal charges, and other information that may be asked of them.
How do I obtain a Virginia Pawn Broker 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.