Maryland collection agency bonds.
From $100.
Maryland licenses collection agencies through the State Collection Agency Licensing Board, and Md. Code, Bus. Reg. § 7-304 requires every licensee to file a surety bond in an amount the Board sets between $50,000 and $1,000,000 based on your business volume. The premium is 0.5% of the bond amount, $100 minimum.
Trusted by industry leaders
How much does a Maryland collection agency bond cost?
0.5% of the bond amount, from $100. Enter your amount in the calculator for the exact price.
Three steps. One sitting.
No quote queue — enter your amount, pay, and upload the bond to NMLS. Here is the whole thing:
Apply online
Business details, the bond amount the Board set, an effective date, and a term. That is the application. No credit check up to $100,000.
Pay & e-sign
The premium is 0.5% of the bond amount ($100 minimum), computed on the spot — the bond issues the moment you pay, with your executed bond and power of attorney generated instantly.
File through NMLS
Upload the executed bond to your NMLS record for the State Collection Agency Licensing Board. Wet-ink original mailed on request.
What it is and who needs it.
What the bond actually guarantees
Maryland's Collection Agency Licensing Act, Md. Code, Bus. Reg. Title 7, requires a license to do business as a collection agency in the state. Section 7-304 requires each applicant to file a surety bond with the State Collection Agency Licensing Board, in an amount the Board sets between $50,000 and $1,000,000 after weighing your business volume, financial condition, and the potential harm to consumers.
It's a three-party arrangement: you (the principal), the surety carrier, and the Board as obligee — for the benefit of the State and any member of the public who suffers a loss from a violation of debt collection laws by you or your agents. Claims can be filed by injured parties or the Board itself, and if claims exceed the bond, the surety pays the full amount for pro-rata distribution.
It is not insurance for you — if the surety pays a claim, you repay the surety. The surety's liability is continuous and runs for three years after the bond is cancelled or the license ends; we track the term and send renewal notices 60 and 30 days out.
You need this bond if you're
Claims, renewal, filing, and what sets the price.
If a claim is made
A claim comes from the party the bond protects, the obligee named on the form, when the duty the bond guarantees is not met.
The surety investigates and pays a valid claim, up to the bond amount. You then repay the surety: a surety bond is a guarantee of your performance, not insurance for you.
Renewal and term
The premium covers a one-year term from the effective date you choose.
Renew before the expiry date to keep the bond in force: the license, permit or contract it backs expects continuous coverage.
How to file it
File through NMLS. Upload the executed bond to your NMLS record for the State Collection Agency Licensing Board. Wet-ink original mailed on request.
What sets the price
The premium is 0.5% of the bond amount, $100 minimum: the amount the obligee sets moves the price, not your business profile.
No credit check up to $100,000. Above that, the carrier may run a soft pull, which never affects your score.
Where a check runs, it decides approval; the rate is the same for everyone approved.
One application, issued instantly.
Submit the application with the bond amount the Board set — the executed bond is generated the moment you pay, ready to file.
Start the application →Common questions.
Other Maryland bonds.
Price and requirements checked on the carrier’s application, . Page updated .
Finish your collection agency license today.
0.5% of the bond amount, $100 minimum, issued the moment you pay. Free until issued.