What Are Virginia Pawnbroker Bonds?
Virginia pawnbroker bonds ensure that pawnshops follow 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/Secondhand Dealer Bond in Virginia?
Virginia state code requires a minimum $50,000 pawnbroker surety bond for licensing anywhere in the state. There is also a separate Scott County Pawnbroker Bond requirement for brokers operating in the county.
Pawnshop bonds provide a financial guarantee that you will follow government regulations. 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 Virginia?
Virginia pawnbroker bond premiums typically cost 0.5–5% of the total bond coverage amount based on credit score. For example, premiums start at $250 for a statewide Virginia pawnbroker bond with $50,000 in coverage. Select your bond below and apply to get a free, no-obligation quote within one business day.
SuretyBonds.com does not charge any additional brokerage fees.
How Do I Apply for a Virginia Pawnshop Bond?
With SuretyBonds.com, you can get your Virginia pawnshop bond quickly, easily and affordably:
- Submit a quick request form.
- Receive a quote and invoice within one business day.
- Checkout online or over the phone.
- Receive your bond documentation via email or mail.
Once you receive your bond, file it with your government licensing agency to become officially bonded.
