Collection agency bond cost
The Alaska Department of Commerce, Community and Economic Development requires collection agencies to post $5,000 surety bonds.
We can issues these bonds instantly without a credit check for just $100! All applicants pay the same low price for the surety bonds they need.
*The bond premium rate quotes provided to you through this website are for pricing comparisons and quotation estimate purposes only. The bond rate quotes provided are based on general assumptions that may or may not be applicable to you and are subject to change at any time. These rate quotes do not constitute an offer of insurance, nor is any contract, agreement, or bond coverage implied, formed or bound by the provision of rate quotes. Bondability, final bond premium rate quotes and an offer of insurance, if any, will be determined by the insurance company providing your bond. You must contact us directly to obtain a quote for binding purposes.
Why this bond
Collection agency bonds in Alaska exist to ensure that principals (collection agencies) report and pay the net proceeds and collections collected during that month to the clients they’re owed to within 30 days of the close of that month. Specifically, the bond ensures that principals comply with the provisions of AS 08.24 while on the job.
If the principal fails to comply with these terms, the bond protects harmed parties from financial loss up to the full penal sum of the bond.
Collection Agency Bond details
Alaska collection agency surety bonds are continuous until canceled. The surety can cancel the bond at any time by providing written notice of cancellation to both the principal and the Department of Commerce, Community and Economic Development at least 60 days prior to the effective date of cancellation.
Become a collection agency
To become licensed as a collection agency in Alaska, applicants must submit the following materials:
- completed, signed and notarized application
- all applicable fees
- $5,000 surety bond
- and more
Take the first step toward becoming a licensed debt collection agency in Alaska by purchasing the surety bond you need for just $100!
Apply for your surety bond
Get a FREE Alaska collection agency bond Quote Today! Click here to begin
- Department of Commerce, Community, and Economic Development Division of Corporations, Business and Professional Licensing Collection Agency License Application Packet
- Department of Commerce, Community, and Economic Development Division of Corporations, Business and Professional Licensing Regulation of Collection Agencies
- Alaska Statutes – Chapter 08.24.:Collection Agencies