North Carolina collection agency bonds.
$125 flat.
The initial-permit bond every North Carolina collection agency files with the Department of Insurance. G.S. 58-70-20 sets it at $10,000, for the benefit of every creditor whose accounts you collect. Ours is $125 flat, the price you see is the checkout price, and the bond issues the moment you pay — the wet-ink original is mailed to the address you give us.
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How much does a North Carolina collection agency bond cost?
$125 at the $10,000 amount, the same for every applicant.
Three steps. One sitting.
The initial-permit bond is a fixed statutory amount at a fixed price. Here is the entire process:
Apply online
Business details, an effective date, a term, and the mailing address for the original. No credit check.
Pay & e-sign
This bond is checkout-priced at $125 flat, so it issues the moment you pay — your executed bond and power of attorney generate on the spot.
Sign the original and file it
The Department of Insurance takes the wet-ink original, so we mail it to the address you gave. Sign it as principal, then file it with your collection agency permit application.
What it is and who needs it.
What the bond actually guarantees
North Carolina permits collection agencies through the Department of Insurance under Article 70 of Chapter 58 — nobody may engage in collection agency business in the State without a permit from the Commissioner. G.S. 58-70-20 requires the bond, and sets it at ten thousand dollars ($10,000) for the initial permit.
The statute is explicit about who the bond is for: it must expressly provide that it is for the benefit of any person, firm or corporation for whom the collection agency engages in the collection of accounts. In other words, your creditor clients. The bond stays in effect until all moneys collected have been accounted for, so it does not simply drop away when a permit lapses.
On renewal the amount is no longer fixed — G.S. 58-70-20 computes the renewal bond from last year’s collections, between $10,000 and $30,000. Permits run July 1 to June 30 under G.S. 58-70-35(b), which is why this bond is keyed to June 30 renewal dates. It is not insurance for you — if the surety pays, you repay the surety.
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 $10,000 bond amount. You then repay the surety: a surety bond is a guarantee of your performance, not insurance for you.
Renewal and term
The bond runs to June 30 whatever day you buy; the premium covers the period to that date.
Renewal falls on the statutory date, June 30, in the year your term ends.
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
Sign the original and file it. The Department of Insurance takes the wet-ink original, so we mail it to the address you gave. Sign it as principal, then file it with your collection agency permit application.
What sets the price
The premium is fixed at $125 at the $10,000 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 — business details, an effective date, a term, and the mailing address for the wet-ink original.
Start the application →Common questions.
Other North Carolina bonds.
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Collection agency bond, issued today.
$125 flat, issued the moment you pay, original mailed to you. Free until issued.