Oklahoma Precious Metals and Gem Dealer Bond Overview
- Purpose: To protect anyone harmed by a fraudulent or unlawful dealer
- Who Needs It: All precious metals and gem dealers in Oklahoma
- Regulating Body: The Oklahoma Department of Consumer Credit and/or Oklahoma City Development Center
- Bond Amount: $10,000
- Premium Price: $100
What Is an Oklahoma Precious Metals and Gem Dealer Bond?
An Oklahoma 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.
There is a $10,000 statewide bond requirement as well as a specific $10,000 bond for dealers licensed to work in Oklahoma City.
How Much Do Precious Metals and Gem Dealer Bonds Cost?
A $10,000 Oklahoma City or Oklahoma State precious metals dealer bond costs $100 for a one-year term. You can also select a multi-year term to save 25% on renewals. Buy your bond in minutes now!
SuretyBonds.com offers the lowest available rates from our nationwide provider network with no added fees.
How Do the Bonds Work?
Precious metals dealer bonds protect anyone harmed by a fraudulent dealer. The Oklahoma bond contract involves three parties.
| Bond Party | Description |
|---|---|
| 1) Principal | The precious metals and gems dealer |
| 2) Obligee | The Oklahoma Department of Consumer Credit and/or Oklahoma City Development Center |
| 3) Surety | The issuing surety provider |
If you, as the principal, commit fraud, theft or otherwise break license regulations, the surety will compensate harmed parties. However, it’s important to avoid bond claims because you have to repay the surety in full.
How Do I Get My Precious Metals Dealer Bond?
You can get your Oklahoma precious metals dealer bond instantly online with SuretyBonds.com. Just enter your information and checkout on this page.
We’ll email you the official bond minutes after purchase. Remember to file the bond form along with your dealer license application.
How Do I Renew My Bond?
To renew your bond, pay the annual renewal premium when prompted. The surety will extend your bond for another term as long as there are no active claims.
If you have the Oklahoma City bond, we’ll issue you a new bond form each year. You’ll need to file this with the Oklahoma City Development Center annually.
