Collection Agency Bonds

Agencies that work on behalf of creditors to collect unpaid debts from their borrowers are required to have a Collection Agency surety bond. These bonds are regulated on the state level, with slightly different requirements and limits depending on where the business is located. Click below to apply for your bond with Jet!

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If you are in need of a Collection Agency bond, Jet can supply you with all your surety bond needs efficiently at an affordable price.

How Much Does a Collection Agency Bond Cost?

The price of the bond is typically a small percentage of the bond limit. Limits vary by state, and might be based on the volume held in trust accounts, number of office locations, or licensing structure. Below is a chart showing Jet's 1-Year rates for common limits on this bond:

Limit1-Year Price
$5,000$50
$10,000$100
$15,000$100
$25,000$100
$50,000$188
Collection Agency Bond Pricing

This bond has slightly different names in certain states: Collection Agency, Debt Collector, Third Party Debt Collector, these all function essentially the same, they are just regulated by different state agencies.

What is the Purpose of a Collection Agency Bond?

Collection agencies collect unpaid debts on behalf of creditors or other third parties that are owed money from a previous customer. Because these companies deal with sensitive financial data and communicated directly about debt repayment, there is an opportunity for financial harm to the customer. State regulatory agencies require this bond as a guarantee that the agency will not engage in deceptive or predatory business practices and will comply with all applicable state laws. Should a customer or creditor suffer financial damages due to prohibited or fraudulent activity, the bond may provide restitution for valid claims. Below is a list of activities that could potentially lead to a claim:

This list is not exhaustive, and specific regulations can change depending on the state.

How Are These Bonds Filed?

Filing procedures can vary by state, but the standard process is typically for you to mail or email the signed bond to the obligee. After you purchase, Jet will email you a copy of your bond form that you can print out and sign, or electronically sign if the obligee you're working with allows for it. In the event that you are required to mail in the physical bond form, Jet will mail you the original sealed bond form for you to sign and mail in. If your specific bond is filed in the National Multistate Licensing System (NMLS), Jet can file the bond for you after you grant us authority.

How to Apply for Your Bond:

You can get your surety bond in just a few minutes with Jet, straight from the source!

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To get started, select the "Quote" button above, or you're more than welcome to give us a call at (855) 296-2663 and one of our Jet team members can walk you through the application process.

Once you have selected your bond, some general information is required, such as your contact details and some information about your business. Make sure you are inputting correct information as your surety bond must contain the same details as your license to be appropriately filed with your state regulator.

As soon as you submit your application, you should receive an online quote instantly. After you receive your approved rate options, all that's left to do is choose the best payment option for you (i.e. monthly, annual, or multi-year) and complete your bond purchase. You'll then receive a copy of your receipt and bond form as soon as the last step is fulfilled.

Additional Collection Agency Bond Information

How to Renew My Bond

For annually-purchased bonds, see Jet’s process to renew your bond. Hint- it’s simple.

How to Cancel My Bond

You can cancel your bond at any time with Jet. Details here.

Bond Claim Process

Check out what causes a bond claim and what can happen after a claim is made.

Notary Bond Application:

X

Business Information:

Indemnity Agreement:

I, the undersigned, hereby apply for a Dishonesty Bond also known as a Business Service Bond or Janitorial Service Bond (“bond”) to the Surety Company (“SURETY”) through Jet Insurance Company (“JET”), with whom I hereby grant the authority to act on my behalf with respect to the bond and assign as my Broker of Record, and declare that the statements herein are true and correct. In consideration of the SURETY issuing, renewing or substituting said bond(s), I, individually and as the owner or officer of the bonded entity, hereby understand and agree, as follows: (i) to reimburse, hold harmless, and indemnify SURETY upon demand for all loss, liability, claim, expense, including but not limited to attorneys’ fees, expert’s fees, investigative fees and claims handling fees, and any other cost which SURETY shall pay or incur in defense, adjustment, or settlement of such claims/suits by reason of such suretyship; (ii) that an itemized statement of loss and expenses by SURETY shall be indisputable proof of my liability to SURETY; (iii) coverage is subject to a $100 deductible; (iv) the employee must be convicted before coverage will apply (v) performance and any form of dispute resolution of this agreement shall take place in the county of SURETY's office of service; and (vi) a facsimile copy or electronically signed version of this agreement shall be binding as if it were an original. This agreement shall survive any changes in, substitute to or renewal of the bond(s).

Required Effect Date of Bond Policy:

Contact Information:

Employee Dishonesty Bond Application:

Business Information:

Business Description:

Coverage Requirements:

Indemnity Agreement:

I, the undersigned, hereby apply for a Dishonesty Bond also known as a Business Service Bond or Janitorial Service Bond (“bond”) to the Surety Company (“SURETY”) through Jet Insurance Company (“JET”), with whom I hereby grant the authority to act on my behalf with respect to the bond and assign as my Broker of Record, and declare that the statements herein are true and correct. In consideration of the SURETY issuing, renewing or substituting said bond(s), I, individually and as the owner or officer of the bonded entity, hereby understand and agree, as follows: (i) to reimburse, hold harmless, and indemnify SURETY upon demand for all loss, liability, claim, expense, including but not limited to attorneys’ fees, expert’s fees, investigative fees and claims handling fees, and any other cost which SURETY shall pay or incur in defense, adjustment, or settlement of such claims/suits by reason of such suretyship; (ii) that an itemized statement of loss and expenses by SURETY shall be indisputable proof of my liability to SURETY; (iii) coverage is subject to a $100 deductible; (iv) the employee must be convicted before coverage will apply (v) performance and any form of dispute resolution of this agreement shall take place in the county of SURETY's office of service; and (vi) a facsimile copy or electronically signed version of this agreement shall be binding as if it were an original. This agreement shall survive any changes in, substitute to or renewal of the bond(s).

Required Effect Date of Bond Policy:

Contact Information:

Contract Bond Application:

X

Business Information:

Owner Information:

Job Details:

Indemnity Agreement:

I, the undersigned, hereby apply for a Dishonesty Bond also known as a Business Service Bond or Janitorial Service Bond (“bond”) to the Surety Company (“SURETY”) through Jet Insurance Company (“JET”), with whom I hereby grant the authority to act on my behalf with respect to the bond and assign as my Broker of Record, and declare that the statements herein are true and correct. In consideration of the SURETY issuing, renewing or substituting said bond(s), I, individually and as the owner or officer of the bonded entity, hereby understand and agree, as follows: (i) to reimburse, hold harmless, and indemnify SURETY upon demand for all loss, liability, claim, expense, including but not limited to attorneys’ fees, expert’s fees, investigative fees and claims handling fees, and any other cost which SURETY shall pay or incur in defense, adjustment, or settlement of such claims/suits by reason of such suretyship; (ii) that an itemized statement of loss and expenses by SURETY shall be indisputable proof of my liability to SURETY; (iii) coverage is subject to a $100 deductible; (iv) the employee must be convicted before coverage will apply (v) performance and any form of dispute resolution of this agreement shall take place in the county of SURETY's office of service; and (vi) a facsimile copy or electronically signed version of this agreement shall be binding as if it were an original. This agreement shall survive any changes in, substitute to or renewal of the bond(s).

Required Effect Date of Bond Policy:

Contact Information:

Worker's Compensation Application:

X

Business Information:

Business Description:

Coverage Requirements

Indemnity Agreement:

I, the undersigned, hereby apply for a Dishonesty Bond also known as a Business Service Bond or Janitorial Service Bond (“bond”) to the Surety Company (“SURETY”) through Jet Insurance Company (“JET”), with whom I hereby grant the authority to act on my behalf with respect to the bond and assign as my Broker of Record, and declare that the statements herein are true and correct. In consideration of the SURETY issuing, renewing or substituting said bond(s), I, individually and as the owner or officer of the bonded entity, hereby understand and agree, as follows: (i) to reimburse, hold harmless, and indemnify SURETY upon demand for all loss, liability, claim, expense, including but not limited to attorneys’ fees, expert’s fees, investigative fees and claims handling fees, and any other cost which SURETY shall pay or incur in defense, adjustment, or settlement of such claims/suits by reason of such suretyship; (ii) that an itemized statement of loss and expenses by SURETY shall be indisputable proof of my liability to SURETY; (iii) coverage is subject to a $100 deductible; (iv) the employee must be convicted before coverage will apply (v) performance and any form of dispute resolution of this agreement shall take place in the county of SURETY's office of service; and (vi) a facsimile copy or electronically signed version of this agreement shall be binding as if it were an original. This agreement shall survive any changes in, substitute to or renewal of the bond(s).

Required Effect Date of Bond Policy:

Contact Information: