Idaho Collection Agency Bonds
Idaho Collection Agency Bond Information
A Collection Agency Surety Bond is required by the State of Idaho Department of Finance. Also called a Surety Bond for Permittee under the Idaho Collection Act, the minimum penal sum of the bond is $15,000 pursuant to Idaho Code 26-2232. The bonds protect those damaged from the bonded principal or its representatives failure to properly account for and pay the proceeds of any collection made or funds received for payment or prorating to creditors, or failure to return to a debtor monies received in error.
How Much Does a Collection Agency Bond Cost in Idaho?
Bonds up to $25,000
1% of the Bond Amount
Bonds over $25,000