Debt collection agency bond cost
The North Dakota Department of Financial Institutions requires collection agencies to post $20,000 surety bonds. Give us a call at 888.610.4474 or submit a bond request to begin our fast and easy bonding process.
Why this bond
North Dakota collection agency surety bonds ensure that principals (collection agencies) fully comply with all provisions of Chapter 13-05 of the North Dakota Century Code. If the collection agency fails to comply with these terms and the state or an individual financially suffers as a result, the surety will cover claims up to the full bond amount. The principal is then responsible for reimbursing the surety.
Debt collection agency bond details
North Dakota debt collection agency bonds are continuing obligations of the surety. The surety can cancel the bond at any time by giving written notice to the North Dakota Department of Financial Institutions in Bismarck, North Dakota, as well as the principal 30 days prior to the effective cancellation date.
Become a collection agency
Collection agency applications must be under oath, in writing and prescribed by the Commissioner of Financial Institutions. Applications must include the addresses and names of the owners, officers, trustees, members, partners and directors of the agency. All required fees and a surety bond must accompany each application.
For more licensing information, visit the Additional information section of this page.
Apply for your surety bond
Get a FREE Collection Agency Bond Quote Today! Click here to begin