What Are Illinois Pawnbroker Bonds?
Illinois pawnbroker license bonds are a type of surety bond that ensure pawnshops follow laws and regulations and operate honestly. They protect government entities and consumers from financial harm if a pawnshop owner or dealer is fraudulent or noncompliant with licensing laws.
Who Needs a Pawnbroker License Bond in Illinois?
Illinois enforces the following surety bond requirements for pawnbrokers in certain cities and villages:
- Village of Creve Coeur Pawn Broker License Bond
- City of Peoria Pawn Broker License Bond
- City of Pekin Pawn Broker License Bond
If you violate the bond terms, the surety provider will compensate the claimant up to the full bond amount.
How Much Does a Pawnbroker Bond Cost in Illinois?
Illinois pawnbroker bonds cost a flat rate of $50 per year for all applicants. Or, you can save by purchasing a three-year term bond for $125. Select the bond you need below to buy your bond instantly online.
SuretyBonds.com does not charge any additional brokerage fees.
How Do I Apply for an Illinois Pawnbroker Bond?
With SuretyBonds.com, you can get your Illinois pawnshop bonds in minutes:
- Select the bond you need.
- Checkout instantly online.
- Receive your bond documentation via email.
Once you receive your bond, file it with the government licensing agency requiring the bond to become officially bonded.
