Adel Pawnbroker Bond

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Adel Pawnbroker Bond: A Comprehensive Guide

This guide provides information for insurance agents to help their customers obtain an Adel Pawnbroker bond.

At a Glance:

  • Average Cost: $100 per year or $10 per month
  • Bond Amount: $5,000
  • Who Needs it: All pawnbrokers operating in Adel, Georgia
  • Purpose: To protect the public from financial harm if the broker violates the terms of their license
  • Who Regulates Pawnbroker in Adel: The Adel City Clerk’s Office
Adel Pawnbroker Bond Form
Adel Pawnbroker Bond Form


Adel Code of Ordinances 62-32 requires all pawnbrokers operating in the city to obtain a license with the City Clerk’s Office before conducting business. The Adel City Council enacted the licensing requirement to ensure that pawnbrokers engage in ethical business practices. To provide financial security for the enforcement of the licensing law, pawnbrokers must purchase and maintain a $5,000 surety bond to be eligible for licensure.

What is the Purpose of the Adel Pawnbroker Bond?

Adel requires pawnbrokers to purchase a surety bond as part of the application process to obtain a pawnbroker license. The bond ensures that the public will be protected from financial harm if the broker fails to comply with the regulations set forth in the Adel Code of Ordinances 22-106. Specifically, the bond protects the public in the event the broker engages in any acts of fraud or fails to report any stolen property. In short, the bond is a type of insurance that protects the public if the pawnbroker violates the terms of their license.

How Can an Insurance Agent Obtain an Adel Pawnbroker Surety Bond?

BondExchange makes obtaining an Adel Pawnbroker bond easy. Simply log in to your account and use our keyword search to find the “Pawnbroker” bond in our database. Don’t have a login? Gain access now and let us help you satisfy your customers’ needs. Our friendly underwriting staff is available by phone at (800) 438-1162, email, or chat from 7:30 AM to 7:00 PM EST to assist you.

At BondExchange, our 40 years of experience, leading technology, and access to markets ensures that we have the knowledge and resources to provide your clients with fast and friendly service whether obtaining quotes or issuing bonds.

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Is a Credit Check Required for the Adel Pawnbroker Bond?

No, a credit check is not required for the Adel Pawnbroker bond. Because the bond is considered relatively low risk, the same low rate is offered to all pawnbrokers in the city regardless of their credit history.

How Much Does the Adel Pawnbroker Bond Cost?

The Adel Pawnbroker bond costs just $100 per year or $10 per month.

Who is Required to Purchase the Bond?

Adel requires every dealer in precious metals or gems, including pawnbrokers, to purchase a surety bond as a prerequisite to obtaining a business license. Pawnbrokers must adhere to this bond requirement because they typically deal with precious metals during normal business operations.

To paraphrase the Adel Code of Ordinances 62-31, a pawnbroker is a person who issues loans to individuals that leave their property, as collateral, for the broker to sell on condition that the customer may repurchase the property within a fixed period of time.

Adel Pawnbroker Bond

BondExchange now offers monthly pay-as-you-go subscriptions for surety bonds. Your customers are able to purchase their bonds on a monthly basis and cancel them anytime. Learn more here.

How do Pawnbrokers Apply for a License in Adel?

Pawnbrokers in Adel must navigate several steps to secure a pawnbroker license. Below are the general guidelines, but applicants should refer to the application form for details on the process.

License Period – All Adel Pawnbroker Licenses expire on March 31st of each year and must be renewed before the expiration date.

Step 1 – Purchase a Surety Bond

Pawnbrokers in Adel must purchase and maintain a $5,000 surety bond.

Step 2 – Complete an Application

Pawnbrokers must submit a completed application to the City Clerk’s Office at the following address:

Adel City Hall
112 N. Parrish Avenue
Adel, Georgia 31620

Brokers must ensure that they complete the application in its entirety and submit a surety bond along with an application fee in an amount determined by the City Clerk. Contact the Adel City Clerk for additional details on the application process.

How do Adel Pawnbrokers Renew Their Licenses?

Pawnbrokers should contact the City Clerk’s Office to obtain a renewal application before their license expires. All Adel Pawnbroker Licenses expire on March 31st of each year and must be renewed before the expiration date. Renewal applications submitted after March 31st will be subject to a late penalty fee.

What are the Insurance Requirements for the Adel Pawnbrokers?

Adel does not require pawnbrokers to purchase any form of liability insurance as a prerequisite to obtaining a pawnbroker license. Pawnbrokers must purchase and maintain a $5,000 surety bond.

How Do Adel Pawnbrokers File Their Bonds?

Pawnbrokers should submit their completed bond forms, including the power of attorney, to the following address:

Adel City Hall
112 N. Parrish Avenue
Adel, Georgia 31620

The surety bond requires signatures from both the surety company that issues the bond and from the dealer. The surety company should include the following information on the bond form:

  • Legal name of the entity/individual(s) buying the bond
  • Surety company’s name and state of incorporation
  • Name of the obligee and the license type applied for
  • Bond amount
  • Date the bond goes into effect
  • Date the bond is signed

What Can Adel Pawnbrokers do to Avoid Claims Against Their Bonds?

To avoid claims against their bonds, pawnbrokers in Adel must ensure that they:

  • Do not engage in any acts of fraud
  • Do not breach contracts made with consumers

What Other Insurance Products Can Agents Offer Pawnbrokers in Adel?

Adel does not require pawnbrokers to purchase liability insurance. However, most reputable businesses will purchase this insurance anyway. Bonds are our only business at BondExchange, so we do not issue any other types of insurance, but our agents often utilize brokers for this specific line of business. A list of brokers in this space can be found here.

How Can Insurance Agents Prospect for Adel Pawnbroker Customers?

Adel unfortunately does not provide a public database of active pawnbrokers in the city. We suggest contacting the City Clerk’s Office for this information. Contact BondExchange for additional marketing resources. Agents can also leverage our print-mail relationships for discounted mailing services.

Adel Pawnbroker Bond