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