Any person or entity operating a collection agency, collection bureau, or collection office in New Jersey, or engaging in the business of collecting or receiving payment for others of any account, bill, or other indebtedness. Required when: Prior to conducting business as a collection agency or soliciting the right to…
Overview
What it is.
Any person or entity operating a collection agency, collection bureau, or collection office in New Jersey, or engaging in the business of collecting or receiving payment for others of any account, bill, or other indebtedness. Required when: Prior to conducting business as a collection agency or soliciting the right to…
Who usually needs it
Any person or entity operating a collection agency, collection bureau, or collection office in New Jersey, or engaging in the business of collecting or receiving payment for others of any account, bill, or other indebtedness.
Pricing & timing
What to expect.
Generic pricing
License bonds are required by state and local governments to ensure compliance with industry regulations. Typical Pricing:. • Small bonds (under $25,000): Typically $100–$250 per year (flat fee). • Larger license bonds: Commonly around 1–5% of the bond amount annually. • Credit impact: Good credit: starting around 1–2% · Average credit: typically 2–4% · Credit challenges: often 4–5% or higher. Same-day approval is typical for many common license bonds. Some license bonds may price higher de…
Typical timeframe
Issuance timeframe varies by bond type and underwriting
Application
What to do next.
Tell us the bond name, state, and amount on your form.
Share business and applicant info so the team can quote it.
Sign and pay; we issue the bond and send you the documents.
Keep your effective date and renewal date on file with us.
Start the application.
You are on the exact bond page. The next step is to start the quick application.
StateNJBond amount$5,000Term lengthAnnualObligeeNew Jersey Department of the Treasury, Division of Revenue and Enterprise ServicesRenewalThe bond must be renewed annually by filing a new Collection Agency Bond Application and paying the required filing fee.Bond classLicense BondCategoryFinancial ServicesBondCollection Agency BondStatutory referenceN.J.S.A. 45:18-1 et seq.JurisdictionState
