Oregon Pawnbroker Bond

Oregon Pawnbroker Bond

A $25,000 Pawnbroker Bond must be submitted to the Department of Consumer and Business Services (DCBS) for a pawnbroker to complete licensing. The bond serves as a guarantee that restitution will be made from fraudulent pawnbroker activities.


The Pawnbroker Bond is available in moments online and may be purchased with a low monthly payment offer exclusively from Jet. 

What Is the Lowest Price for the Pawnbroker Bond?

Rates for the Pawnbroker Bond start at $25 monthly or $250 annually with Jet. By cutting out the middlemen, Jet is able to offer rates lower than other insurance companies. Our team looks for ways to make the bonding process more efficient, which is reflected in our rates. 

Oregon Pawnbroker Bond Cost
Term Cost
Monthly $25
1 Year $250
2 Years $438
3 Years $625

The actual cost of the bond will depend on the underwriting process, which includes an evaluation of personal credit. Rates will vary from the example given above for a preferred credit applicant, but still reflect Jet’s commitment to minimize your costs.

How Does the Pawnbroker Bond Get Submitted to the DCBS? 

Once you purchase your Pawnbroker Bond, Jet will take care of the rest for you. While other insurance companies would leave you with the hassle of submitting the original bond and paying shipping fees, Jet will send the original bond directly to the DCBS. 

If you need the original bond to submit along with initial pawnbroker licensing to the DCBS, Jet will mail the bond to you. Once all paperwork has been completed, please mail to:

Department of Consumer and Business Services
Division of Financial Regulation
P.O. Box 14480
Salem, OR 97309-0405

What Happens If I Need to Cancel My Pawnbroker Bond?

Ending your Pawnbroker Bond is easy with Jet. Once you request cancellation, Jet will send a notice to the DCBS. The Department will hold your bond in effect for an additional 30 days before the cancellation goes through. Your refund will be calculated based on the time that is left unused by the bond. 

For monthly payments, a cancellation notice will be sent to the DCBS right away. But, since the Department holds the bond in effect for an additional 30 days, an additional payment may be required until Jet’s liability ends. 

How Does a Pawnbroker Avoid Bond Claims?

Pawnbrokers must comply with the Pawnbrokers Act found in the Oregon Revised Statutes (ORS) 726, paying what is due to the state and any other person who is owed any money to avoid action against the Pawnbroker Bond. The Pawnbrokers Act covers licensing information, as well as regulation of pawnbroker conduct and the penalties for violating the act. Claims against the bond may result from a pawnbroker defrauding a customer, owing fees or fines to the DCBS, or engaging in illicit activity that would hold the pawnbroker liable as indicated in ORS 762.270. Some examples of a pawnbroker owing money include but are not limited to: 

If a pawnbroker does not exhibit the conduct indicated in the Pawnbrokers Act, civil action or criminal penalties may be incurred against the pawnbroker according to ORS 726.910 and ORS 726.990. Claims on the Pawnbroker Bond can be filed in addition to these disciplinary actions if the claimant does not feel satisfied that restitution has been fulfilled by the judgment. 

What Happens If a Pawnbroker Gets a Bond Claim?

If a claim is filed against a Pawnbroker Bond, Jet will work on behalf of the pawnbroker to investigate the validity of the claim. All information regarding the accusation must be submitted to Jet’s claims team from both sides. The investigation typically takes up to 45 days to complete, but more time may be requested to conclude the investigation. No surety bond broker or agent can provide this service, as they would pass this responsibility to the carrier, whom pawnbrokers would have no relation with.

A claim that is found to be valid will result in Jet paying the claimant for the damages up to the full limit of the bond. Ultimately, pawnbrokers are responsible for paying Jet back since their actions were the reason for the claim. Failure to pay the amount of the claim back to Jet will result in the cancellation of the pawnbroker’s bond and put the pawnbroker’s license in jeopardy. 

Why Is the Pawnbroker Bond Required? 

The DCBS requires pawnbrokers to carry a Pawnbroker Bond as a way to protect the public from a pawnbroker acting fraudulently. The bond will repay any customers or even the Department if a pawnbroker fails to pay them as needed. The Department serves to protect the people of Oregon from being taken advantage of financially. 

How Does the Application Process Work With Jet? 

Our online application guides you through filling out necessary business and personal information. Although the application must be submitted to underwriting, Jet will offer an instant rate following the application submission, only taking seconds where other carriers take days. Once you receive an approved rate, you can purchase your bond right away!


How To Renew the Pawnbroker Bond

Pawnbrokers making monthly payments do not require a bond renewal. So long as each payment is received, the bond remains in effect. 

For those on annual bond terms, Jet will contact you prior to your bond’s renewal date. To continue your bond, simply click the link in your email to update any payment information and renew your bond within seconds. 

Does the Pawnbroker Bond Expire? 

No, the Pawnbroker Bond does not expire. However, the bond is purchased for specific bond terms and must be renewed at the end of the term to keep the bond in effect. Jet will cancel the bond with the DCBS if payment is not made by the Pawnbroker. 

Oregon Pawnbroker Bond Form