City of Milwaukee Pawnbroker Bond Guide
If you’re opening a pawnshop in Milwaukee, Wisconsin, you’ll need this surety bond.
Bond Overview
- Purpose: To ensure pawnbrokers operate honestly and legally
- Who Needs It: Secondhand dealers operating in Milwaukee
- Regulating Body: The Milwaukee City Clerk's Office
- Required Coverage: $500
- Premium Rate: $100
Learn all about the bond requirements and process in this guide.
What Is a Milwaukee Pawnbroker Bond?
A Milwaukee, Wisconsin pawnbroker bond protects the public from fraud or theft by unethical pawnbroker practices. It creates financial security for clients if a pawnbroker breaks local ordinances.
The Milwaukee City Clerk's Office requires this bond as part of the city-wide licensing process for pawnshop owners and brokers.
How Much Do Pawnbroker Bonds Cost in the City of Milwaukee?
A $5,000 Milwaukee pawnbroker bond costs a flat rate of $100 for a 1-year term. No application or credit check is required.
Click below to buy your bond in minutes!
SuretyBonds.com offers the lowest available rates from our nationwide provider network with no added fees.
Who Needs a Pawnbroker Bond?
The Milwaukee City Clerk's Office requires a license and bond for all licensed pawnbrokers, secondhand dealers, and precious metals and gems dealers operating in city limits.
If you operate outside of Milwaukee, visit our Wisconsin Pawnbroker Bond Guide to see all secondhand dealer bonds in the state.
How Do I Get My Bond?
With SuretyBonds.com, you can buy your City of Milwaukee pawnbroker bond instantly online. Just enter your information and checkout in minutes.
We’ll email you the bond shortly after purchase. Be sure to file the bond with the Milwaukee City Clerk's Office as instructed.
If you have any questions, call our friendly surety experts at 1 (800) 308-4358 for assistance.
How Does a City of Milwaukee Pawnbroker Bond Work?
As with all surety bonds, a pawnbroker bond creates a legal contract between three parties:
- Principal: You, the pawnbroker filing the bond
- Obligee: The Milwaukee City Clerk's Office requiring the bond
- Surety: The provider issuing the bond
This holds you financially responsible for following all city ordinances and relevant state laws.
If you break the bond terms, harmed parties can file claims. The surety will pay valid claims up to the bond amount, but you are ultimately responsible for refunding the surety.
How Do I Renew My Bond?
These bonds expire annually. To renew your pawnbroker bond, simply pay your renewal invoice when prompted.
After renewing, you’ll receive a continuation certificate to file with the city clerk as proof of ongoing coverage.
