What Is a Precious Metals and Gems Dealer Bond?
A precious metals and gems dealer bond is a type of surety bond that ensures dealers conduct business ethically and lawfully to protect the public from financial harm.
How Much Do Precious Metals and Gems Dealer Bonds Cost?
You can expect to pay a small percentage of the total bond amount for a precious metals and gems dealer bond. In many cities and states, we issue these bonds at a flat rate of $100 for all applicants.
However, rates vary and in some cases you may need to apply for a quote based on your credit score for certain precious metals and gems dealer bonds. Select your state to get started now.
How Do Precious Metals and Gems Dealer Bonds Work?
A precious metals and gems dealer bond offers financial recourse for any customers harmed by a fraudulent dealer. The legally-binding bond contract involves three parties:
- Principal: The precious metals and gems dealer purchasing the bond
- Obligee: The state or city authority requiring the bond for licensure
- Surety: The company issuing the bond and backing the dealer
If a precious metals and gems dealer commits fraud, theft or otherwise breaks their license regulations, the surety will compensate harmed parties.
How to Get a Precious Metals and Gems Dealer Bond
You can purchase most precious metals and gems dealer bonds instantly online at a flat rate. If your bond requires an application, follow these simple steps:
- Apply for a free bond quote
- Pay your invoice online or over the phone
- File your bond with the obligee
If you have any questions about the process, our friendly surety experts are here to help!
How Do I Renew My Precious Metals and Gems Dealer Bond?
Your SuretyBonds.com account manager will begin contacting you 90 days before your bond is set to expire. To maintain your active bond status, pay your renewal invoice and file any necessary paperwork as instructed.
How Do I Update My Precious Metals and Gems Dealer Bond Form?
If you need to update basic information on your bond form, email [email protected] outlining your change request. We may be able to issue a bond rider document to amend the active bond without the need to cancel and issue a brand new bond form.
