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Utah Collection Agency Bonds

What is a Utah Collection Agency Bond?

A Collection Agency Bond must be furnished by authorized Utah collection agency businesses. The surety bond obligates the bonded principal to, upon written notice, pay or otherwise release to any third party in accordance with the terms of the agreement upon which such account, bill or other indebtedness was received for collection, the proceeds of such collection. The collection agency surety bond is for the use and benefit of any person who may be harmed financially as a result of violations of the provisions of Title 12, Utah Code.

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