Camden Secondhand Storekeeper Bond: A Comprehensive Guide
At a Glance:
- Average Cost: $100 per year or $10 per month
- Bond Amount: $500
- Who Needs it: All secondhand storekeepers operating in Camden, New Jersey
- Purpose: To protect the public from financial harm if the secondhand storekeeper violates the terms of their license
- Who Regulates Secondhand Storekeepers in Camden: The Camden Bureau of License and Inspections
Background
Camden City Code 667-12 requires all secondhand storekeepers operating in the city to obtain a license from the Bureau of License and Inspections. The City Council of Camden enacted the licensing requirement to ensure that secondhand storekeepers engage in ethical business practices. To provide financial security for the enforcement of the licensing law, secondhand storekeepers must purchase and maintain a $500 surety bond to be eligible for licensure.
What is the Purpose of the Camden Secondhand Storekeeper Bond?
Camden requires secondhand storekeepers to purchase a surety bond as part of the application process to obtain a business license. The bond protects the public from financial harm if the secondhand storekeeper fails to comply with the regulations set forth in Camden City Code 667-4. Specifically, the bond protects the public if the secondhand storekeeper engages in any acts of fraud or breaches consumer contracts. In short, the bond is a type of insurance that protects the public if the secondhand storekeeper violates the terms of their license.
How Can an Insurance Agent Obtain a Camden Secondhand Storekeeper Surety Bond?
BondExchange makes obtaining a Camden Secondhand Storekeeper surety bond easy. Simply login to your account and use our keyword search to find the “Camden” 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 (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 Camden Secondhand Storekeeper Bond?
No, a credit check is not required for the Camden Secondhand Storekeeper bond. Because the bond is considered relatively low risk, the same low rate is offered to all secondhand storekeepers in the city regardless of their credit history.
How Much Does the Camden Secondhand Storekeeper Bond Cost?
The Camden Secondhand Storekeeper bond costs just $100 per year or $10 per month.
Who is Required to Purchase the Bond?
Camden requires secondhand storekeepers to purchase a surety bond as a prerequisite to obtaining a business license. To paraphrase Camden City Code 667-1, a secondhand store is a business that purchases and sells previously owned clothing, furniture, appliances, and other goods where at least 70% of the store’s inventory is secondhand goods.
Exemptions to this definition include:
- Retail sales of new goods and merchandise
- Junkyards or junk dealers
- Secondhand or used automobiles
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 Secondhand Storekeepers Apply for a License in Camden?
Secondhand storekeepers in Camden must navigate several steps to obtain a license. Below are the general guidelines, but applicants should refer to the application instructions for details on the process.
License Period – All Camden Secondhand Storekeeper Licenses expire one year from the date of issuance and must be renewed before the expiration date.
Step 1 – Obtain Zoning Approval and a Certificate of Occupancy
Prior to submitting an application, secondhand storekeepers must obtain zoning approval and a certificate of occupancy for their business location. Contact the Department of Code Enforcement for assistance.
Step 2 – Purchase a Surety Bond
Secondhand storekeepers must purchase and maintain a $500 surety bond.
Step 3 – Complete the Application
Secondhand storekeepers are required to submit their application to the Bureau of License and Inspections by mail to the following address:
P.O. Box 95120
Camden, NJ 08101
Applicants must complete the form in its entirety and submit the following items:
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- Surety bond
- $580.98 licensing fee
- Original, valid proof of identification
- Social security card of the storekeeper
- A copy of the applicant’s fingerprints
- State Sales Tax Certificate of Authority
- Deed or lease of the premise
All secondhand storekeepers must get their application notarized by a commissioned notary public, and all applicants will be subject to a background check. Contact the Bureau of License and Inspections for assistance with the application process.
How do Camden Secondhand Storekeepers Renew Their Licenses?
Secondhand storekeepers should contact the Bureau of License and Inspections to obtain a renewal application before their license expires. All Camden Secondhand Storekeeper Licenses expire one year from the date of issuance and must be renewed before the expiration date.
What are the Insurance Requirements for Secondhand Storekeepers in Camden?
Camden does not require secondhand storekeepers to purchase any form of liability insurance. Storekeepers must purchase and maintain a $500 surety bond.
How Do Camden Secondhand Storekeepers File Their Bonds?
Secondhand storekeepers should mail or deliver their completed bond forms, including the power of attorney, to the Bureau of License and Inspections at the following address:
P.O. Box 95120
Camden, NJ 08101
The bond requires signatures from both the surety company that issues the bond and the applicant. 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, address, and state of incorporation
- Date the bond is signed
What Can Camden Secondhand Storekeepers do to Avoid Claims Made Against Their Bonds?
To avoid claims against their bonds, secondhand storekeepers in Camden must ensure that they:
- Do not engage in any acts of fraud
- Faithfully honor all consumer contracts
What Other Insurance Products Can Agents Offer Secondhand Storekeepers in Camden?
Camden does not require secondhand storekeepers to purchase liability insurance as a prerequisite to obtaining a business license. However, most reputable businesses will purchase this insurance anyway. Bonds are our only business at BondExchange, so we do not issue liability 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 Camden Secondhand Storekeeper Customers?
Camden unfortunately does not provide a public database of active secondhand storekeepers in the city. We suggest contacting the Bureau of License and Inspections to obtain this information. Contact BondExchange for additional marketing resources. Agents can also leverage our print-mail relationships for discounted mailing services.