Collection agency bond cost
The Internal Auditing Division of the West Virginia State Tax Division requires collection agencies to post $5,000 surety bonds to legally work within the state.We can issues these bonds instantly without a credit check! This means that everyone pays the low, flat rate of $175 for 2 years.
Why this bond
West Virginia collection agency bonds are put in place to ensure that principals (collection agencies) comply with the provisions of Chapter 47, article 16 of the Code of West Virginia and all pertaining amendments. Specifically, the bond guarantees that the principal will account for and pay all damages suffered by the state or a private person resulting from the principal’s failure to comply with the laws of the state and industry.Pay just $175 for your bond! Get started now.
West Virginia collection agency bonds must be renewed every 2 years and run concurrently with the registration tax period. The bond can be canceled prior to the expiration date if the surety provides written notice of cancellation to the state. Cancellation goes into effect 60 days after the postmarked date of the notice.
Become a collection agency
No person, firm, corporation or association can operate as a collection agent or agency in West Virginia without first obtaining a Business Registration Certificate. A license is required for each collection agency, including each principal office and all branch offices.
Apply for your surety bond
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