When you begin a new pawnshop,
or open an additioanl location for an existing shop, California State
law requires you to furnish proof of $100,000 in liquid assets OR furnish
a bond for $100,000. This bond does not have to be renewed when your
term expires. Also, you must have a $20,000 bond which must be renewed
every two years when you renew your State Pawnbroker License. The
bond(s) effective date must be the same as on your State License and
run concurrently.
BOND
APPLICATION
Your name on the bond as
Applicant or Principal must be the same as that on your State Pawnbroker
License. The effective date must be the same as the effective date
on your State license also. Click
HERE for $100,000 Pawnbroker Bond application. 
Signing
Instructions: If you are a corporation, the majority stockholder
(or President if no one person owns a majority) signs as Applicant and
the Corporate Secretary signs for the corporation. Both then sign again (along
with their spouses) as Individual Indemnitors. All
signatures MUST be notarized.
If
you are a Sole Proprietor or Partner, sign as Applicant, then sign again (with
spouse) as Individual Indemnitors. All
signatures MUST be notarized.
FINANCIAL
STATEMENTS
Send
us your most recent personal and business compiled financial statements prepared
by your C.P.A. Applicants may be asked to furnish additional documentation to
substantiate the compiled statements, depending on the financial strength of the
applicant and the financial statements provided.
Click
HERE for a Personal Financial Statement form 
Click
HERE for a Business Financial Statement form 
PREMIUMS
& BOND TERM
We
have several companies (with different premiums and underwriting requirements)
offering the $100,000 bond. Depending upon which one you qualify for, the
premium will be $750.00 minimum, or more, depending on
the carrier's underwriting rules & your credit history. The bond company
will notify us of additional premiums required, if any. Submit your application
and financial information for a firm quote.
Please
make your check payable to UHLE INSURANCE TRUST ACCOUNT for the appropriate
premium(s) and return with the properly signed and completed forms to the address
below. A copy of your executed bond(s) will be sent to you to file with your LOCAL
police authority. (Keep a copy for your records).
We
appreciate - and specialize - in your business! We also offer the best Pawnbroker's
Insurance Package in California, which includes all the coverage you want and
need to protect your business. Call us for a quotation today!
Related
Bonds:
Motor Vehicle Dealer (DMV) Bond
Sales Tax Bond
Finance
Lender Bond
UHLE
INSURANCE SERVICES
CA License #0792694
P.O. Box 16506
Encino, CA 91416-6506