This bond is required by the Arkansas State Board of Collection Agencies under Arkansas Code Section 17-24-306. It requires Collection Agency companies to pay any account, bill, or other indebtedness that is taken for collection, in accordance with the terms of the agreement upon which it was received for collection and with the Rules and Regulations of the Arkansas State Board of Collection Agencies. The bond amount varies as follows:
(a) For Agencies with five (5) or less collectors, bond shall be in the amount of ten thousand dollars ($10,000.00)
(b) For Agencies with six (6) to twelve (12) collectors, bond shall be in the amount of twenty thousand dollars ($20,000.00)
(c) For Agencies with thirteen (13) or more collectors, bond shall be in the amount of twenty five thousand dollars ($25,000.00)
Though the required bond amount varies, Surety1 can provide this bond at a competitive price regardless of the bond amount you need.
To Acquire an Arkansas Collection Agency Surety Bond:
- Complete an online application.
- One of our expert commercial surety agents will call and email you with the firm quote and an agreement to sign.
- Provide payment and your signed agreement, then you will receive your bond!
** all bonds are subject to the underwriting terms and conditions of the issuing company.