NYC collection agency bonds.
$100 flat.
New York City requires a debt collection agency to file a $5,000 bond with the Department of Consumer and Worker Protection as a condition of its license. Ours is $100 flat. The bond issues the moment you pay — no credit check.
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How much does an NYC collection agency bond cost?
$100 at the $5,000 amount, the same for every applicant.
Three steps. One sitting.
License bonds are the simplest thing in surety. Here's the whole process:
Apply online
Business details and an effective date. That is the application. No credit check.
Pay & e-sign
License bonds like this are among the thousands of bond types that issue right after purchase.
File with DCWP
Your executed bond arrives by email, ready to file with your NYC collection agency license application. Wet-ink original mailed on request.
What it is and who needs it.
What the bond actually guarantees
New York City licenses debt collection agencies through the Department of Consumer and Worker Protection (DCWP), and conditions the license on a $5,000 surety bond. The bond is a consumer-protection guarantee: it stands behind your honest handling of money collected on behalf of creditors and your compliance with the City's debt collection rules.
It's a three-party arrangement: you (the principal), the surety carrier, and the City of New York (the obligee), with consumers and creditors as protected parties. If an agency misapplies collected funds or violates the debt collection law, the harmed party can recover against the bond.
It is not insurance for you. If the surety pays a claim, you repay the surety. Agencies that remit funds properly and follow the rules treat the bond as a license formality.
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 $5,000 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; a longer term is the same price per year, chosen at checkout.
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 with DCWP. Your executed bond arrives by email, ready to file with your NYC collection agency license application. Wet-ink original mailed on request.
What sets the price
The premium is fixed at $100 at the $5,000 amount for every applicant: the carrier’s rate book prices this bond by the form, not by your credit or your business profile.
No credit check.
One application, issued instantly.
These are the actual issuing fields. No credit check.
Start the application →Common questions.
Other New York bonds.
Been told you need a different amount?
Price and requirements checked on the carrier’s application, . Page updated .
Finish your NYC collection agency license today.
$100 flat, no credit check, bond often issued in the same sitting. Free until issued.