Maryland Pawn Broker | $50,000 Pawn Broker Surety Bond

Also known as: pawn broker bond

Type of Bond

A Maryland pawnbroker bond is a type of surety bond that is required for individuals or businesses engaged in pawnbroking activities in the state of Maryland. Pawnbrokers are individuals or businesses that offer loans to customers in exchange for personal property, which serves as collateral for the loan. The bond serves as a financial guarantee that the bonded pawnbroker will comply with the laws, regulations, and licensing requirements governing pawnbroking. The purpose of the bond is to protect consumers and ensure that pawnbrokers operate with integrity, transparency, and in compliance with established guidelines. It provides assurance that the bonded pawnbroker will fulfill their obligations, handle customer property responsibly, and follow the required procedures for loan transactions and collateral management. By obtaining the bond, the pawnbroker agrees to abide by the requirements set forth by the Maryland Department of Labor, Licensing, and Regulation or other relevant regulatory bodies. This may include obtaining the necessary licenses and permits, maintaining accurate records, complying with interest rate limits and redemption periods, and following proper procedures for the storage, appraisal, and sale of pawned items. If the bonded pawnbroker fails to meet their obligations or violates the terms of the bond agreement, a claim can be filed against the bond. This allows customers or regulatory bodies to seek financial compensation for any damages, losses, or non-compliance issues resulting from the pawnbroker's actions. The bond amount for a Maryland pawnbroker bond is typically determined based on the requirements set by the regulatory authority. It may vary depending on factors such as the volume of pawn transactions, the value of the pawned items, and the specific bond requirements in Maryland. Pawnbrokers should consult with the Maryland Department of Labor, Licensing, and Regulation or a surety bond provider to understand the specific bond requirements applicable to their operations and to obtain the necessary bond coverage.


Program

The price you'll pay for your $50,000 Pawn Broker Bond is generally based on your personal credit score. Start a free online quote by just completing a simple app or by calling 888-518-8011. Our experts will walk you through a very simple process. Compare our quote as the very lowest price, and then you're good to go! It's that simple!

We provide all types of $50,000 Pawn Broker Bonds. Worldwide Insurance Specialists, Inc. has "in house" underwriting authority with the largest and best Surety (Insurance) companies in the world including, Great American, Liberty Mutual, Philadelphia, Travelers, and CNA Surety. All of these surety bond companies are A-rated under the AM Best credit rating system, and T-listed with the U.S. Department of Treasury. This guarantees that by getting bonded through us, you will be provided the backing of these highly trustworthy and reliable companies.


Application

The application process for a $50,000 Pawn Broker Bonds is easy! Many Bonds are INSTANT ISSUE! Easy Application, no underwriting, no credit check, no GIA required. Our NEW Desktop underwriting program provides you with a rapid approval process used to determine the degree of risk that you (the Principle) complete a project or obligation. Non-INSTANT ISSUE quotes can also get instantly approved. Submissions require very little information from you. Once you file and sign an indemnity agreement, we issue the Bond. It's that simple! We quote and issue Surety Bonds of every type and will help you through the entire process. These applications only require basic information about your business, bond type, and ownership structure. Once the application is complete, we submit to the insurance company (Surety) who will then issue your bond. Don't pay too much! Get your Bond Fast, and Easy with the best price! Click here to start the Pawn Broker Bond Application process.

The Maryland Pawn Broker Bond amount is currently set at  $50,000.

Obligee Information

An obligee is the entity that is requiring you to have the Pawn Broker bond.

For your convenience you can view a sample copy of the Maryland Pawn Broker Bond Form.

Obligee: Mayor And The City Council Of Baltimore
Street: City Hall Rm 250 100 N Holliday St
State: Maryland
Zip: 21202