Who Requires the Collection Agency Bond and Why Is It Needed?
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 Will My Surety Bond Cost?
Some Arizona Collection Agency Bonds are offered completely online without a credit check or any paperwork. Surety Bonds Direct has access to the lowest bond prices available in the market for applicants with good credit and bad credit.
It only takes a couple minutes to provide us with the information required for a free, no-obligation quote. Or if you prefer, call 1‐800‐608‐9950 to speak with one of our friendly bond experts. We can help guide you through the bonding process and identify the lowest cost in the market for your situation.
If you are interested in spreading out the cost of your bond over time, we can offer convenient financing plans for many types of surety bonds. More information will be provided with your quote.
What Does the 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.
What is Needed to Obtain My 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
