Hempstead pawnbroker bonds.
$100 flat.
New York law requires every pawnbroker — the statute now says collateral loan broker — to be licensed locally and to file a $10,000 bond. In the Town of Hempstead, that bond is made payable to the Town and filed with your license application at the Office of the Town Clerk. One flat price, and the bond issues the moment you pay.
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How much does a Hempstead pawnbroker bond cost?
$100 at the $10,000 amount, the same for every applicant.
Three steps. One sitting.
The bond is one line on the Town Clerk’s license checklist. Here is the entire process on our side:
Apply online
Your business entity, address, owner and contact details, an effective date and a term. That is the application. The application collects no credit information.
Pay & e-sign
This bond is checkout-priced, so it issues the moment you pay — your executed bond, naming the Town of Hempstead, and the power of attorney generate on the spot.
File with the Town Clerk
Submit the bond with your first-time or renewal Pawn Brokers License application at the Office of the Town Clerk, One Washington Street, Hempstead, along with the annual fee and the form’s other papers. Wet-ink original mailed on request.
What it is and who needs it.
What the pawnbroker bond actually guarantees
Article 5 of the New York General Business Law governs pawnbroking, which the statute now calls collateral loan brokering. Section 40 bars anyone from carrying on the business without a license from the local licensing authority, and the Town of Hempstead states it plainly on its own licensing page: New York law requires every pawnbroker to be licensed by the local government. In the Town of Hempstead, that authority is the Office of the Town Clerk.
Section 41 then requires every licensee, at the time of receiving the license, to file a bond with the licensing authority in the penal sum of ten thousand dollars, conditioned for the faithful performance of the duties and obligations of the licensed business. The Town’s Pawn Brokers License form repeats it: a surety bond of $10,000, made payable to the Town of Hempstead. The bond stands behind exactly that condition: if you fail the duties and obligations the law attaches to lending on pledged goods, the Town can recover against it.
It's a three-party arrangement: you (the principal), the surety carrier, and the Town of Hempstead (the obligee). It is not insurance for you: if the surety pays a claim, you repay the surety. The license runs January 1 to December 31 and is renewed yearly, so the bond has to stay in force with it; we send renewal notices 60 and 30 days before your term ends.
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 $10,000 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 December 31 whatever day you buy; the premium covers the period to that date.
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 the Town Clerk. Submit the bond with your first-time or renewal Pawn Brokers License application at the Office of the Town Clerk, One Washington Street, Hempstead, along with the annual fee and the form’s other papers. Wet-ink original mailed on request.
What sets the price
The premium is fixed at $100 at the $10,000 amount for every applicant: the carrier’s rate book prices this bond by the form, not by your credit or your business profile.
One application, issued instantly.
These are the actual issuing fields — your entity type, business address, owner and contact details, an effective date and a term. The application collects no credit information. Free until issued.
Start the application →Common questions.
Other New York bonds.
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Finish your pawnbroker license today.
One flat price, issued the moment you pay, ready for the Town Clerk. Free until issued.