MD collection agency bonds.
0.5% of the bond amount.
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, the bond issues the moment you pay, and any credit screen is a soft pull only — it never affects your score.
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Apply to filed in 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 entire application — any credit screen is a soft pull that never shows as a hard inquiry.
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
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.
Finish your collection agency license today.
0.5% of the bond amount, $100 minimum, issued the moment you pay. Free until issued.