This surety bond is required by the Department of Insurance in compliance with Sections 58-70-5 or 58-70-20 of North Carolina General Statutes. The bond can be for domestic, foreign or alien. The bond amount required for Domestic and Foreign collection agencies is $10,000 and the bond amount for Alien collection agencies is $20,000. If the collection agency misappropriates these funds, the state can file a claim on the agency’s bond. If the claim is determined to be valid, the face value of the bond is released by the surety company and paid by the collection agency. Typically, the premium on this bond as little as $100.
To Obtain a North Carolina Collection Agency 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.