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Washington DC Pawnbrokers are required under the Act of Congress approved August 6, 1956 Public Number 982, 84th Congress to file a Washington DC Pawnbroker Bond as a condition of licensure.
A surety bond protects the party requesting the bond, the Obligee, against any financial losses as a result of poor financial decisions, damages, unethical decisions, or a failure to follow state and local laws on the part of you, the Principal. The Washington DC Pawnbroker Bond holds you accountable for your business decisions.
By possessing a Washington DC Pawnbroker Bond, you are telling your Obligee that you can be trusted as a Principal and that you stand behind your business decisions.