Virginia Pawnbroker Bonds

A Pawnbroker Bond is a type of surety bond required by the state of Virginia for those licensed as a pawnbroker or engaged in the business of a pawnbroker, The surety bond must be in the minimum coverage amount of $50,000 in order to secure the payment of judgments recovered under the provisions of the Code of Virginia - Title 54.1 Professions And Occupations - Section 54.1-4003. The bond is in place for reimbursement of any unsatisfied judgments by damaged parties related to code violations or other misconduct by the licensed pawnbroker.