North Carolina foreign collection agency bonds.
From $125.
North Carolina will not issue a collection agency permit until the applicant files a surety bond in favor of the State with the Commissioner of Insurance under G.S. 58-70-20. The statute sets the amount: $10,000 for an initial permit, $10,000 to $30,000 on renewal. Ours is 1% of the bond amount plus a $25 fee — $125 on the initial $10,000.
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How much does a North Carolina foreign collection agency 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.
The collection agency permit bond is a straight filing — enter your amount, pay, and send the executed bond in with your application. Here is the whole thing:
Apply online
Business details, your FEIN, the bond amount, an effective date, and a term. No credit check up to $250,000. Above that, the carrier may run a soft pull, which never affects your score.
Pay & e-sign
This bond is checkout-priced, so it issues the moment you pay — your executed bond and power of attorney generate on the spot.
File with the Department of Insurance
Your executed bond arrives by email, ready to go in with the permit application at the Commissioner's office. Wet-ink original mailed on request.
What it is and who needs it.
What the bond actually guarantees
North Carolina licenses collection agencies through the Commissioner of Insurance under Article 70 of Chapter 58. G.S. 58-70-20 makes the bond a condition precedent to the permit: every applicant files a bond in favor of the State of North Carolina, executed by a surety licensed to write surety in the State, of $10,000 for the initial permit and between $10,000 and $30,000 for a renewal permit — the renewal figure derived from the prior year's collections net of commissions.
A foreign collection agency is one organized outside North Carolina but inside the United States. It files the same permit bond a resident agency does, and — because it is a nonresident — a second bond in favor of the Department covering examination expenses. That second bond is a separate filing; this page is the permit bond.
It is not insurance for you — if the surety pays a claim, you repay the surety. Permits run on statutory dates, so the bond has to stay continuously on file to keep the permit alive; 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
File with the Department of Insurance. Your executed bond arrives by email, ready to go in with the permit application at the Commissioner's office. Wet-ink original mailed on request.
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 $250,000. 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 FEIN, the bond amount, an effective date, and a term. That is the application.
Start the application →Common questions.
Other North Carolina bonds.
Price and requirements checked on the carrier’s application, . Page updated .
Finish your collection agency permit today.
From $125, issued the moment you pay, no credit check up to $250,000. Free until issued.