Any person or business operating as a collection agency in Washington, including those collecting debts for third parties or purchasing delinquent/charged-off debts for collection purposes. Required when: Required at the time of applying for a Collection Agency license. Exemptions: Out-of-state collection agencies are…
Overview
What it is.
Any person or business operating as a collection agency in Washington, including those collecting debts for third parties or purchasing delinquent/charged-off debts for collection purposes. Required when: Required at the time of applying for a Collection Agency license. Exemptions: Out-of-state collection agencies are…
Who usually needs it
Any person or business operating as a collection agency in Washington, including those collecting debts for third parties or purchasing delinquent/charged-off debts for collection purposes.
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.
StateWABond amount$5,000Term lengthContinuousObligeeWashington State Department of Licensing, Collection Agency BoardRenewalThe bond must be renewed annually on January 1st of each year as per RCW 19.16.190.Bond classLicense BondCategoryFinancial ServicesBondCollection Agency BondStatutory referenceRCW 19.16.190JurisdictionState
