Alaska Collection Agency Bond

In Alaska, there is a license requirement for  collection agencies. To obtain this license, each licensee must provide a Alaska Collection Agency Bond. Licensure is not required for an out-of-state agency when the agency is only seeking to make collections from debtors within the state of Alaska. Licensure is required when an out-of-state agency collects claims or solicits to collect claims on behalf of creditors (clients) based in Alaska. The bond is required to:

• conduct a collection agency business in this state;
• collect claims for others in this state;
• solicit the right to collect or receive payment of a claim for another;
• advertise or solicit either in print, by letter, in person or otherwise, the right to collect or receive payment of a claim for another;
• seek to make collection or obtain payment of a claim on behalf of another.

Surety Bond

• Required by: Alaska Department of Commerce, Community and Economic Development
• Minimum Bond Amount: $5,000
• Maximum Bond Amount: Varies
• Valid: Continuous – Renewable

The Alaska Collection Agency Bond has a very specific guarantee. Per the surety bond form:

“within 30 days after the close of each fiscal or calendar month, reports and pays to customers the net proceeds due and payable of all collections made during that calendar or fiscal month which exceed $20, and strictly, honestly and faithfully complies with the provisions of AS 08.24 and all amendments to it and regulations adopted under it, then this obligation is void”

Since this bond is continuous, it is in full force and effect until cancelled. If the bond is cancelled, the obligee muse be notified of the cancellation at least 60 days before the cancellation date.

Alaska Collection Agency Licensing Requirements

Surety1 is not directly involved with the licensing process, but we’ve compiled this information which may helpful for you.

State licensing fees and requirements:

• Surety bond
• License application
• Supporting documents for application (listed on official page)
• $1,100 state filing fee
• $125 license renewal fee

All licensing fees are required by the obligee, not the surety company. All licenses expire June 30th annually. All license renewal applications must be accepted by May 15th annually in order to receive the license certificate before June 30th. This is required by the obligee, not the surety company. For more licensing information, visit Alaska’s government website.

How to obtain a Alaska Collection Agency Bond

At Surety1.com we make it easy to obtain this surety bond. Our simple, 3 step process is:

1. Complete the easy to navigate and secure online application. ¹
2. Review the free, no obligation quote from one of Surety1’s professional surety bond agents, usually within one business day.
3. Sign some paperwork and pay the bond premium

Once these steps have been completed, the Alaska Collection Agency Bond will be shipped to the bond principal (licensee) via traceable mail. Overnight shipping is also available. Visit Surety1.com’s Guide to Collection Agency bonds for the Collection Agency surety bond requirements in other states.

Surety1.com is a service of AssuredPartners one of the largest and fastest growing insurance agencies in the nation. Representing over a dozen surety bond companies, Surety1.com is the premier online provider of surety bonds nationwide since 2003.