North Carolina
Collection Agency Bond

400,000+ Bonds issued to 250,000+ satisfied customers.

Coverage Amount: $10,000 - $60,000

Term Length: 1 year

Select Bond For Price^*

Most Bonds Processed In 24 Hours Or Less

Which Collection Agency Bond?

Fast Delivery

Purchase your bond today and select from Next Day, Two Day, or Three Day Shipping.

Best Prices

We shop the top surety markets to find you the best rate.

Secure Checkout

Backed by SSL, our online bonding process is secure. We are committed to your privacy.

How much does a collection agency bond cost in North Carolina?

The North Carolina Department of Insurance requires new collection agencies to file financial responsibility surety bonds in varying amounts depending on the applicant’s status. Domestic collection agencies (incorporated within North Carolina) and foreign collection agencies (incorporated outside of North Carolina) must post $10,000 initial surety bonds. Alien collection agencies (operating outside of the United States) must post $20,000 initial surety bonds.

Initial domestic collection agency bonds are issued instantly, starting at $100. Foreign and alien collection agency bonds, as well as domestic agency renewal bonds, are subject to underwriting consideration.

Bond Type

Bond Amount

Cost

$10,000Collection Agency Bond: Domestic Application

$10,000

$100

$10,001-$30,000Collection Agency Bond: Domestic Application

$10,001-$30,000

Starts at $100

$10,000-$30,000Collection Agency Bond: Foreign Application #1

$10,000-$30,000

Starts at $200

$10,000Collection Agency Bond: Foreign Application #1

$10,000

Starts at $200

$10,000Collection Agency Bond: Foreign Application #2

$10,000

Starts at $100

$10,001-$30,000Collection Agency Bond: Foreign Application #2

$10,001-$30,000

Starts at $100

$20,000Collection Agency Bond: Alien Application

$20,000

Starts at $400

$20,001-$60,000Collection Agency Bond: Alien Application

$20,001-$60,000

Starts at $400

OVERNIGHT SHIPPING

200,000 SATISFIED CUSTOMERS NATIONWIDE

NO HIDDEN FEES

Why do I need this bond?

North Carolina collection agency financial responsibility surety bonds benefit any person, firm or corporation for whom or which the principal (collection agency) collects money on behalf of. By posting the bond, the principal agrees to uphold all rules and regulations of the state while engaged in the collection of accounts. By underwriting the principal’s bond, the surety assumes liability for the losses incurred if the principal conducts unlawful business. The principal must reimburse the surety for all damages paid out.

What’s the fine print?

Collection agency bonds in North Carolina remain in full force during the principal’s permit period and remain in effect until all monies collected by the agency on behalf of third parties have been accounted for.

The surety can cancel the bond by providing written notice of cancellation to both the principal and the Commissioner of Insurance at least 30 days prior to the effective termination date.

How to start a collection agency in North Carolina

To become a new collection agency in North Carolina, applicants must adhere to the following requirements:

Pay the $1,050 licensing fee
Obtain a license for each business location
Submit all required supporting documents
Provide proof of a trust account
Post a surety bond in the proper amount

To renew a license, the licensee is responsible for the following:

Renew their license by June 30
Pay the $1,040 license fee
Make all changes to addresses, telephone numbers, branch offices, corporate name and email addresses, if applicable
Post a surety bond in the proper amount

Collection Agency Bonds Nationwide

Many collection agencies operate in multiple states, meaning they may be required to have multiple surety bonds. Get more information about other states’ collection agency bond requirements by selecting a state on the map below.