New Jersey businesses which deal with precious metals and jewelry are regulated by the state’s Division of Consumer Affairs.
A condition of licensing of New Jersey dealers is evidence of a surety bond.
AmeriPro Surety Bonds offers you the bond in whatever amount required as both a new (first time) and renewal bond for existing licensees.
New Jersey statutes don’t specifically state the amount of surety bond required, beyond stating that the amount required will be determined by the Office of Weights and Measures.
Our understanding is that either a $5000 or $10,000 surety bond is typically required of New Jersey precious metals dealers; however, you will always want to confirm the amount of surety bond required for your individual circumstance.
Our agency will be able to facilitate whatever the surety bond amount you are required to purchase.
Once issued, this bond is active for a period of one year from the date of issuance. The premium amount will likely be about $50 – 100; however, this will depend on the amount of surety bond required.
The purpose of the New Jersey precious metals bond is a financial guarantee which ensures your compliance with all laws and statutes regulating the precious metals industry. The specifically bond protects the people of the state of New Jersey from acts of fraud, theft, and criminal malfeasance on the part of a precious metals professional.
As principal for this surety bond, you are responsible should any claim ever be paid against your bond by a surety company.
AmeriPro Surety Bonds is a surety bonds-only agency which provides license and permit, contractor, court, and fiduciary surety bonding throughout New Jersey.
Our agency also provides surety bonds nationwide.
We look forward to working with you for all of your surety bond needs.
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