Who needs a pawnbroker bond?
In the State of Ohio, Pawnbrokers are required to obtain a $25,000 Pawnbroker Bond to be in compliance with the Ohio Statutes. Any person engaged in the business of lending money on deposit or pledges of personal property, other than securities, printed evidence of indebtedness, titles, deeds, or bills of sale, at a total charge, rate of interest, or discount or other remuneration will need the pawnbroker bond.
What is the pawnbroker bond?
Pawnbroker bond guarantees compliance with law and regulations governing the operation of pawnbrokers business in the state in which the pawnbroker operates. A pawn broker essentially offers their customers high interest, short-term loans with items of personal property used a collateral. The surety bond guarantees that the pawn broker will not sell the personal item before the end of the contractual period, that they will honor the sell back price and interest cost agreed upon, and that they will not charge more interest than statutorily allowed.
The Ohio pawnbroker bond is also known as: Ohio pawn bond, secondhand dealer bond, pawn dealer bond, pawnshop dealer bond, and pawnshop bond.
What else do I need besides the pawnbroker bond?
Requirements are always subject to change, so it's best to consult the Ohio Department of Commerce for the most up-to-date information.
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Only Ashton Agency can provide you with:
Many companies offer the pawnbroker bond, but by contacting the Ashton Agency, you can be sure you'll be getting the best price available, not to mention our stellar customer service and insider knowledge of the industry. We've been helping dealers get bonded for more than 45 years. Let us put that experience to work for you today!
Call us now at (800) 451-4854 for a free quote and we will contact you within 24 hours. We can assist you over the phone to ensure you receive your bond quickly and easily!
Don't have time to speak on the phone? Please fill out our easy online application and fax to (407) 678-2468. We can get you started right away!