A collection agency surety bond ensures an agency fulfills its contract in an ethical manner. This bond ensures the agency will properly handle money it receives while pursuing outstanding debts. It also guarantees those funds are routed to the company with the outstanding debt.
No Need to Join an Expensive Association to Get Great Bond Rates
If the collection agency misappropriates these funds, the state can file a claim on the agency’s bond. If the claim is determined to be valid, the face value of the bond is released by the surety company and paid by the collection agency.
If you are looking to get bonded in multiple states, make sure to let your surety bond agent know, we can sent you up and take of all your bonds at once!