Arizona Collection Agency Bond Information
A Collection Agency Bond is required for licensed collection agencies operating in Arizona within the meaning of Title 32, Chapter 9, Arizona Revised Statutes. Along with complying with the Arizona Revised Statutes, the state requires that the bonded collection agency pays all damages suffered by anyone injured by wrongful acts, defaults, fraud or misrepresentation by the licensee or its employees relating to any transaction governed by the statutes or licensing terms and conditions.
How Much Does a Collection Agency Bond Cost in Arizona?
Bonds up to $25,000
1-Year Bond Starts at $100.00
1% of the Bond Amount
Bonds over $25,000
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What does a Collection Agency Bond Protect Against?
The Collection Agency Surety Bond protects the State of Arizona or any person injured as a result of fraudulent or wrongful acts, misrepresentation or default by the licensee or his employees. The principal must also comply with applicable provisions of Title, Chapter and Article of the Arizona Revised Statutes.
Getting Your Arizona Business License or Registration
Application Fees and Forms required for Collections Agencies pursuant to Arizona Revised Statues §6-126 et seq.:
- DFI License Application
- Collection Agency Supplement
- Biographical Statement
- Collection Agency Bond
- Statement of Citizenship
- Personal Financial Statement
- Company Financial Statement