This bond is required for businesses in Connecticut that buy and sell used goods, such as pawn shops, consignment stores, or secondhand merchandise dealers. The state requires this $10,000 bond to protect consumers and ensure these businesses follow all state laws and regulations. If a dealer violates rules, breaks th…
Overview
What it is.
This bond is required for businesses in Connecticut that buy and sell used goods, such as pawn shops, consignment stores, or secondhand merchandise dealers. The state requires this $10,000 bond to protect consumers and ensure these businesses follow all state laws and regulations. If a dealer violates rules, breaks th…
Who usually needs it
Secondhand dealers operating in Connecticut who purchase personal property from non-wholesalers for the purpose of reselling or exchanging the property must obtain this $10,000 surety bond as part of their licensing requirements with local law enforcement or the Department of Emergency Services and Public Protection.
Pricing & timing
What to expect.
Generic pricing
License bonds are required by state and local governments to ensure compliance with industry regulations. Typical Pricing:. • Small bonds (under $25,000): Typically $100–$250 per year (flat fee). • Larger license bonds: Commonly around 1–5% of the bond amount annually. • Credit impact: Good credit: starting around 1–2% · Average credit: typically 2–4% · Credit challenges: often 4–5% or higher. Same-day approval is typical for many common license bonds. Some license bonds may price higher de…
Typical timeframe
Issuance timeframe varies by bond type and underwriting
Application
What to do next.
Tell us the bond name, state, and amount on your form.
Share business and applicant info so the team can quote it.
Sign and pay; we issue the bond and send you the documents.
Keep your effective date and renewal date on file with us.
Start the application.
You are on the exact bond page. The next step is to start the quick application.
StateCTBond amount$10,000ObligeeState of ConnecticutBond classLicense BondCategoryOtherBondSecondhand DealerPlain descriptionThis bond is required for businesses in Connecticut that buy and sell used goods, such as pawn shops, consignment stores, or secondhand merchandise dealers. The state requires this $10,000 bond to protect consumers and …Who needs this bondSecondhand dealers operating in Connecticut who purchase personal property from non-wholesalers for the purpose of reselling or exchanging the property must obtain this $10,000 surety bond as part of their licensing req…
