This surety bond is required by the Tennessee Collection Service Board under Tennessee Code Annotated Title 62, Chapter 20. A collection agency surety bond ensures an agency fulfills its contract in an ethical manner. This bond ensures the agency will properly handle money it receives while pursuing outstanding debts. It also guarantees those funds are routed to the company with the outstanding debt. The bond is available in three amounts as follows:
(a) $15,000 1-4 employees
(b) $20,000 5-9 employees
(c) $25,000 10 or more
Surety1 can typically write the premium on the $15,000 bond for as low as $113 for the year, the $20,000 bond for as low as $150 for the year and the $25,000 for as low as $188 for the year.
To Obtain a Tennessee Collection Service License 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.