Connecticut Collection Agency Bonds

The bond requires that the agency shall faithfully account for all funds entrusted, collected and received in the capacity as a consumer collection agency. Any person who may be damaged by the wrongful conversion of any creditor, consumer debtor or property tax debtor funds held by the principal, may file a claim against the bond to recover damages.

The surety has the right to cancel the bond at any time by a written notice to the obligee, stating the date cancellation shall take effect. Such notice shall be sent by certified mail to the obligee at least thirty (30) days prior to the date of cancellation.