Secondhand dealers in Connecticut are statutorily defined as “...[someone] who is primarily engaged in the business of purchasing personal property of any type from a person who is not a wholesaler, for the purpose of reselling or exchanging such property...” Chapter 409, Section 21-39a.
Secondhand dealers are licensed and regulated by the state’s Department of Emergency Services & Public Protection.
A prerequisite for licensing is that a $10,000 surety bond be furnished to the Department. Obtaining this surety bond takes a matter of about 10 minutes.
Our agency also provides the $2000 Connecticut pawn dealer surety bond.
You are automatically approved for the $10,000 Connecticut secondhand dealer bond. There is no credit check inquiry nor underwriter review for this bond. The bond is an “instant issue” surety.
What this means for you is that after completion of a short surety bond application (which we will take from you over the phone), and payment of the premium --$100 – the secondhand dealer surety bond is issued to you immediately.
A copy of the bond can be sent to you by email. The original copy (which is the one you will file with the Department; not a copy) will be sent to you by the following business day. Before filing, you will also sign the original surety bond as its Principal.
At $100, the Connecticut secondhand dealer bond is valid for one year from the date of issuance. Thereafter, the surety bond and the premium are renewed.
Our agency also offers you the ability to prepay this bond for 2 or 3 years.
Prepayment does two things for you: One, it allows you to renew less frequently; and two, it offers you a savings over year to year renewal of the premium.
The premium breakdown – and savings – are as follows:
The purpose of the secondhand dealer bond is to serve as a financial guarantee that you will be in compliance with all regulations involved in secondhand dealing. The bond protects those consumers who can credibly demonstrate harm caused by a second dealer who fails to follow the law.
AmeriPro Surety Bonds is a surety bonds-only agency. We provide license and permit surety bonds throughout Connecticut.
Our agency also provides surety bonds nationwide.
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