NC collection agency renewal bonds.
1% of the bond amount.

The replacement bond a North Carolina collection agency files when its permit renews. G.S. 58-70-20 stops using the flat initial figure and computes the renewal bond from your prior calendar year: collections paid directly to you, less commissions earned, divided by six — with a $10,000 floor and a $30,000 ceiling. The premium is 1% of the bond amount, $100 minimum, and the wet-ink original is mailed to you. Any credit screen is a soft pull only, never a hard inquiry.

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Required at permit renewal — the initial $10,000 figure no longer applies

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Amount is collections less commissions, divided by six — floor $10,000, ceiling $30,000

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1% of the bond amount, $100 minimum — exact price at the application

1% rate$100 minimumInstantissuance at checkoutOriginalmailed to you

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How it works

Apply to filed in one sitting.

Run the statutory computation once, then the rest is a checkout. Here is the whole process:

NOW · ONLINE

Apply online

Business details, your computed renewal amount, an effective date, a term, and the mailing address for the original. Any credit screen is a soft pull that never shows as a hard inquiry.

INSTANTLY

Pay & e-sign

The premium is 1% of the bond amount with a $100 minimum, priced at checkout — the bond issues the moment you pay, with the power of attorney attached.

BY MAIL

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 and file it with your renewal application.

About this bond

What it is and who needs it.

How the renewal amount is computed

North Carolina does not renew a collection agency permit on the initial bond figure. G.S. 58-70-20 sets the renewal bond at no less than $10,000 and no more than $30,000, computed as: total collections paid directly to the collection agency, less commissions earned by the agency on those collections, for the calendar year ending immediately prior to the date of application, multiplied by one-sixth.

So an agency that took in $120,000 in collections and earned $30,000 in commissions on them computes $90,000 ÷ 6 = $15,000 — inside the band, so that is the bond. An agency below the floor still posts $10,000; an agency far above the ceiling posts $30,000 and no more. The bond keeps the same statutory purpose: it is for the benefit of any person, firm or corporation for whom the agency collects accounts, and stays in effect until all moneys collected have been accounted for.

Permits run July 1 to June 30 under G.S. 58-70-35(b), so this replacement bond is keyed to those statutory dates. It is not insurance for you — if the surety pays, you repay the surety. We track the term and send renewal notices 60 and 30 days out.

N.C.G.S. § 58-70-20Section 58-70-20 of the North Carolina Collection Agency Act provides that the amount of the bond for any renewal permit shall be no less than ten thousand dollars ($10,000), nor more than thirty thousand dollars ($30,000), and shall be computed as follows: the total collections paid directly to the collection agency less commissions earned by the collection agency on those collections for the calendar year ending immediately prior to the date of application, multiplied by one-sixth. The bond 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, and remains in effect until all moneys collected have been accounted for. Under G.S. 58-70-35(b) each permit runs one year, beginning July 1 and ending June 30.

You need this bond if you're

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Renewing an NC collection agency permit for the July 1 to June 30 permit year

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Replacing an expiring bond whose amount no longer matches your collections

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Above the $10,000 floor after a year of higher collections net of commissions

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Correcting a filed amount the Department flagged against your prior-year figures

One application, issued instantly.

These are the actual issuing fields — business details, your computed renewal amount, an effective date, a term, and the mailing address.

Start the application →

FAQ

Common questions.

How much is the NC collection agency renewal bond?The premium is 1% of the bond amount, with a $100 minimum. At the $10,000 floor that is $100; at the $30,000 ceiling it is $300. Your exact price appears at the application, before you pay.

How do I compute my renewal amount?Take total collections paid directly to your agency for the calendar year ending immediately before the application, subtract the commissions you earned on those collections, and divide by six. If the result is under $10,000 you post $10,000; if it is over $30,000 you post $30,000.

Why is my renewal bond bigger than my first one?Because the initial permit uses a flat $10,000 figure and the renewal does not. Once you have a year of collections behind you, G.S. 58-70-20 sizes the bond to those collections, up to the $30,000 statutory ceiling.

Why is the original mailed?The North Carolina Department of Insurance takes the wet-ink original bond, not a scan. We mail it to the address you enter on the application; you sign it as principal before filing it with your renewal.

Is there a credit check?If a credit screen runs on this bond, it is a soft pull only — never a hard inquiry, and it never affects your score. The rate stays 1% either way.

Related bonds

Other North Carolina bonds.

Renew your collection agency permit today.

1% of the bond amount, $100 minimum, issued the moment you pay. Free until issued.

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Your premiumfrom $100

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