City of Detroit pawnbroker bonds.
$100 flat.
The City of Detroit requires every pawnbroker to file a $3,000 bond as a condition of the city license, processed through the Consumer Affairs Business License Center. Ours is $100 flat, issued instantly — no credit check.
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How much does a City of Detroit pawnbroker bond cost?
$100 at the $3,000 amount, the same for every applicant.
Three steps. One sitting.
License bonds are the simplest thing in surety. Here's the entire process:
Apply online
Business details and an effective date. That is the application. No credit check.
Pay & e-sign
License bonds like this are among the thousands of bond types that issue right after purchase.
File with your Detroit license
Your executed bond arrives by email, ready to file through the Detroit Business License Center (eLAPS). Wet-ink original mailed on request.
What it is and who needs it.
What the bond actually guarantees
The City of Detroit licenses pawnbrokers — those who lend against personal property left as collateral — and conditions the license on a $3,000 surety bond. The bond is a consumer-protection guarantee that you will follow Detroit's pawnbroking rules and deal fairly with the people who pledge property to you.
It is a three-party arrangement: you (the principal), the surety, and the City of Detroit together with harmed customers (the protected parties). If a pawnbroker mishandles a pledge, violates redemption rules, or otherwise breaks the licensing law, the harmed party can recover against the bond.
It is not insurance for you — if the surety pays a claim, you repay the surety. The bond must stay active for the life of your license, so we track it and send renewal notices 60 and 30 days out.
You need this bond if you're
Claims, renewal, filing, and what sets the price.
If a claim is made
A claim comes from the party the bond protects, the obligee named on the form, when the duty the bond guarantees is not met.
The surety investigates and pays a valid claim, up to the $3,000 bond amount. You then repay the surety: a surety bond is a guarantee of your performance, not insurance for you.
Renewal and term
The bond runs to November 1 whatever day you buy; the premium covers the period to that date.
Renewal falls on the statutory date, November 1, in the year your term ends.
Renew before the expiry date to keep the bond in force: the license, permit or contract it backs expects continuous coverage.
How to file it
File with your Detroit license. Your executed bond arrives by email, ready to file through the Detroit Business License Center (eLAPS). Wet-ink original mailed on request.
What sets the price
The premium is fixed at $100 at the $3,000 amount for every applicant: the carrier’s rate book prices this bond by the form, not by your credit or your business profile.
No credit check.
One application, issued instantly.
These are the actual issuing fields. No credit check.
Start the application →Common questions.
Other Michigan bonds.
Been told you need a different amount?
Price and requirements checked on the carrier’s application, . Page updated .
Finish your Detroit license checklist today.
$100 flat, no credit check, bond often issued in the same sitting. Free until issued.