Tennessee collection service license bonds.
$200 flat.
A Tennessee collection agency with five to nine certified employees must file a $20,000 surety bond to hold a Collection Service license — ours is $200 flat, and the price you see is the checkout price. No credit check, so most applicants approve instantly.
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How much does a Tennessee collection service license bond cost?
$200 at the $20,000 amount, the same for every applicant.
Three steps. One sitting.
A collection service license bond is one of the simpler filings in surety. Here's the entire process:
Apply online
Agency details, your compliance officer, 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 the Collection Service Board
Your executed bond and power of attorney arrive by email, ready to file with your Tennessee Collection Service license application or renewal through the CORE account system. Wet-ink original mailed on request.
What it is and who needs it.
What the bond actually guarantees
Tennessee licenses collection agencies through the Collection Service Board, part of the Department of Commerce and Insurance, under the Tennessee Collection Service Act. Licensure is conditioned on a surety bond sized to the agency's certified employee count — $15,000 for one to four employees, $20,000 for five to nine, the tier this bond covers, and $25,000 for ten or more.
It's a three-party arrangement: you (the principal), the surety carrier, and the State of Tennessee (the obligee), with consumers and clients the agency serves as the protected parties. If a licensed agency breaches the Act or a client agreement in a way the law covers, a harmed party can make a claim against the bond.
It is not insurance for you — if the surety pays a claim, you repay the surety. The bond must stay active for the life of your Collection Service license, so we track it and notify you before your renewal date so the $20,000 filing stays continuous.
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 $20,000 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 the Collection Service Board. Your executed bond and power of attorney arrive by email, ready to file with your Tennessee Collection Service license application or renewal through the CORE account system. Wet-ink original mailed on request.
What sets the price
The premium is fixed at $200 at the $20,000 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 Tennessee bonds.
Been told you need a different amount?
Price and requirements checked on the carrier’s application, . Page updated .
File your Collection Service bond today.
$200 flat, no credit check, bond often issued in the same sitting. Free until issued.