North Carolina collection agency renewal bonds.
From $125.
A North Carolina collection agency files this replacement bond when its permit renews. G.S. 58-70-20 computes it from your prior calendar year: collections less commissions, divided by six, with a $10,000 floor and a $30,000 ceiling. The premium is 1% of the bond amount plus a $25 fee, $125 minimum.
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How much does a North Carolina collection agency renewal bond cost?
1% of the bond amount plus a $25 fee, from $125. Enter your amount in the calculator for the exact price.
Three steps. One sitting.
Run the statutory computation once, then the rest is a checkout. Here is the whole process:
Apply online
Business details, your computed renewal amount, an effective date, a term, and the mailing address for the original. No credit check up to $30,000.
Pay & e-sign
The premium is 1% of the bond amount plus a $25 fee with a $125 minimum, priced at checkout — the bond issues the moment you pay, with the power of attorney attached.
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.
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.
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 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 and file it with your renewal application.
What sets the price
The premium is 1% of the bond amount plus a $25 fee, $125 minimum: the amount the obligee sets moves the price, not your business profile.
No credit check up to $30,000. 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.
These are the actual issuing fields — business details, your computed renewal amount, an effective date, a term, and the mailing address.
Start the application →Common questions.
Other North Carolina bonds.
Price and requirements checked on the carrier’s application, . Page updated .
Renew your collection agency permit today.
1% of the bond amount plus a $25 fee, $125 minimum, issued the moment you pay. Free until issued.