What is a North Carolina Precious Metals Dealer Bond?
Secure your business through this surety bond!
What is a Precious Metals Dealer Bond?
As part of the permit requirement for precious metals dealers in the State of North Carolina, the said person must submit a surety bond to the North Carolina Department of Crime Control and Public Safety.
The purpose of the surety bond is to ensure the full compliance of the precious metals dealer to the applicable state laws and rules when buying precious metals (gold, silver, or platinum) from the public in the following forms:
- Silver Services
Any independent contractor who buys precious metals under any arrangement in any department store must submit a surety bond as well.
If the precious metals dealer commits any wrongful acts by violating the surety bond’s conditions, any person who has suffered damages will be eligible to be financially compensated by filing a bond claim.
What is the Precious Metals Dealer Bond amount?
The bond amount is $10,000.
If you have an excellent credit score, you will be eligible to pay for a low bond premium. Bond premium starts at $100.
Check out what you need to pay by getting your FREE SURETY BOND QUOTE HERE!
How can I get a Precious Metals Dealer Bond?
Here’s a step-by-step bonding process that we have made easier so that you can get your bond in no time:
You must first apply for this type of surety bond. If you are ready to do this now, you may APPLY HERE!
Our expert surety bond agent will guide you through the entire process – from the time you have applied until the bond is issued to you.
Next, you will be asked to submit a few important information that our underwriter will need to assess the following:
- Your job or business history
- Your credit score
- Your financial strength
To avoid any delays, make sure that you have gathered the right information needed before submitting.
Once the underwriting process is done, we will immediately issue your bond and send it to you right away!
What are the surety bond conditions?
- The surety bond agent or company should be authorized to conduct business in the State of North Carolina
- The surety bond should be made payable to the State of North Carolina for the benefit of any person who will suffer damages from the potential wrongdoings of the bonded precious metals dealer
- The precious metals dealer is obligated to obey the provisions of Article 25 of the North Carolina General Statutes as well as the rules and regulations of the North Carolina Department of Crime Control and Public Safety
- If the precious metals dealer commits a violation, the aggrieved party will be eligible to file a claim against the surety bond