The Nevada Foreign Collection Agency Bond is required by the Department of Business & Industry, Financial Institutions Division. This is bond is for a person/s who is not licensed in the state of Nevada as a collection agency. They may apply to the Commissioner as a foreign collection agency. In lieu of a license, out-of-state debt buyers may obtain a Certificate of Registration as a Foreign Collection Agency subject to a number of requirements and restrictions. To be issued and to hold a certificate of registration as a foreign collection agency, a person:
- Must meet the qualifications to do business as a collection agency in this State;
- Must not have any employees or agents present in this State who engage in the collection of
claims and must not maintain any business locations in this State as a collection agency;
- Must submit proof to the Commissioner, upon application and upon each annual renewal of
the certificate of registration, that the person and his or her employees and agents will not, in this
- Engage in the business of soliciting the right to collect or receive payment for another of any
- Respond to a bid, proposal or invitation for the right to collect or receive payment for
another of any claim, unless the bid, proposal or invitation is for the collection of claims owed by
residents of another state; or
- Advertise or solicit, either in print, by letter, in person or otherwise, the right to collect or
receive payment for another of any claim;
- When collecting claims against debtors who are present in this State, must:
- Limit his or her activities and those of his or her employees and agents to interstate
communications by telephone, mail or facsimile;
- Limit his or her activities and those of his or her employees and agents to the collection of
claims from residents of this State on behalf of residents of another state; and
- Comply with the requirements of NRS 649.305 to 649.375, inclusive, with regard to his or
her activities and those of his or her employees and agents;
What is the purpose of a Nevada Foreign Collection Agency Bond?
The bond states that the bondholder shall pay to the State of Nevada through the Division of Financial Institutions of its Department of Business and Industry any money due upon the written request of the Commissioner, pursuant to a verified statement of particulars submitted by any customer disclosing the sums of accounts turned over for collection and unaccounted for by the bondholder.
What is the amount of the Nevada Foreign Collection Agency Bond?
The surety bond, as written on the NRS 649.105, starts at $35,000. Please refer to the fees below for the exact amount of the surety bond:
AVERAGE MONTHLY BALANCE AMOUNT OF BOND REQUIRED
- Less than $100,000 $35,000
- $100,000 or more but less than $150,000 $40,000
- $150,000 or more but less than $200,000 $50,000
- $200,000 or more $60,000
How can I obtain a Nevada Foreign Collection Agency Bond?
Complete our easy to navigate online application. Within one business day, a licensed agent will contact you with a no-obligation quote for your bond (the “premium”). Once any necessary paperwork is signed and the premium payment is processed, your surety bond will be shipped to you via USPS Priority Mail (overnight shipping options also available).
The surety bond experts at Surety1 are here to help you get bonded quickly and reliably. We work with over a dozen “A” rated surety markets to ensure we find you the lowest rate for your bond. We are also licensed in all 50 states and maintain an A+ rating by the Better Business Bureau.