A Collection Agency License Bond is a type of surety bond required by the Nebraska Collection Agency Licensing Board for those duly licensed, or in the licensing process, with the intent of engaging in collection agency business in the State of Nebraska. The terms of the surety bond obligate the bonded collection agency to perform all agreements entered into with the licensee's clients or customers and report to and pay its clients the net proceeds of all collections made and due during the preceding calendar month. An action may be brought in any court of competent jurisdiction upon this bond for customers who are damaged by failure of the licensee to comply with all payment requirements and agreements.The state of Nebraska requires all bond terms to end on December 31.
