The Arizona Credit Services Bond is a type of surety bond that is required by the Arizona Corporation Commission, Corporation Division under the Arizona Credit Repair Organizations Act. The Arizona Credit Services Bond allows the Credit Service Organization to receive payment before full completion of services. The bond also ensures that the Organization will comply with all provisions of Arizona Revised Statutes Title 44, Chapter 11, Article 7. In event of violation of said Statute by the Organization, the bond provides compensation for any person who is damaged by the violation.
In Arizona, a Credit Services Organization is a person or entity who sells, provides, or performs any of the following services in exchange for payment:
- Improving a buyer’s credit record, history, or rating
- Obtaining an extension of credit for a buyer
- Providing advice or assistance to a buyer with regard to either of the above items
The Arizona Credit Services Bond amount requirement is equal to 5% of the total amount of fees charged by the Credit Service Organization under contract with the buyers. According to Arizona Revised Statutes Title 44-1708, the bond should be no less than $5,000 and no more than $25,000. The bond amount must be adjusted once a year. The cost of the surety bond is usually between 1% and 3% of the bond amount, subject to a minimum premium and fees of $150. Surety1 will shop its many markets to procure the right price at the right terms.
For more information on becoming a Credit Services Organization in the State of Arizona, visit the website HERE.
How to Get an Arizona Credit Services Bond
At Surety1.com we make it easy to obtain this surety bond. Our simple, three step process is:
- Complete the easy to navigate and secure online application. 1
- Review the free, no obligation quote from one of Surety1’s professional surety bond agents, usually within one business day.
- Sign some paperwork and pay the bond premium
Once these steps have been completed, the Arizona Credit Services Bond will be shipped to the bond principal (applicant).
1- The name of the applicant on the surety bond application must match exactly the full legal business name of applicant for the license.
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 and maintains an A+ rating by the Better Business Bureau .
Apply for all states with one application. Visit our State Guide of Bond Requirements for Credit Services / Credit Repair Businesses
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How to Get Your Arizona Credit Services Bond
- Complete an online application. It’s free and no-obligation.
- One of our surety experts will contact you with a firm quote and an agreement to sign.
- Provide payment and your signed agreement, and then you will receive your Surety Bond!
If you have any questions, please call us at 877-654-2327.
Surety1 was founded in 2003 and helps thousands of clients find the best prices on their surety bonds. We take pride in our work so that we can give you great service. Learn more about Surety1.