The City of Buffalo Collection Agency Bond is required by the City in the amount of $5,000. There is no State of New York Bond Requirement. There is a New York City Collection Agency Bond Requirement. The bond states that the bondholder shall faithfully comply with the provisions of Chapter 140 of the Code of the City of Buffalo, relating to collection agencies. In addition, they shall pay all damages to any person by reason of misstatement, misrepresentation, fraud or deceit or any unlawful act or omission. The cost of this bond with Surety1 starts at a very low price for the two-year term.
Who needs to get the Collection Agency Bond?
Anyone doing collecting in the City of Buffalo is required to have a Collection Agency License. Your principal place of business can be outside City Limits. The bond is one of the requirements in obtaining the license.
What are the other requirements?
- Completed application form. A Notary Public must witness signature of applicant.
- Attach a recent copy of the financial statement and/or prior year’s Income Tax return.
- Submit a Police record check.
- Submit a Corporate Filing Receipt or DBA.
- Payment of $400 made payable to the city of Buffalo.
How to obtain a City of Buffalo Collection Agency 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 Surety Bond will be shipped to the bond 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.