Collection Agency or Out of State Collection Agency Bond
A Collection Agency or Out of State Collection Agency Bond is required for businesses that collect debts owed to other companies in Washington State. This $5,000 bond protects consumers from unethical practices like harassment, threats, or violations of debt collection laws. If the collection agency breaks the rules a…
Overview
What it is.
A Collection Agency or Out of State Collection Agency Bond is required for businesses that collect debts owed to other companies in Washington State. This $5,000 bond protects consumers from unethical practices like harassment, threats, or violations of debt collection laws. If the collection agency breaks the rules a…
Who usually needs it
Collection agencies operating in Washington—both in-state and out-of-state—that collect debt on behalf of a debt owner or debt buyer must obtain this $5,000 surety bond to comply with state licensing requirements. This includes agencies with main offices in Washington and out-of-state agencies that have clients located in Washington or contact debtors in Wa…
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$5,000ObligeeState of WashingtonBond classLicense BondCategoryOtherBondCollection Agency or Out of State Collection Agency BondPlain descriptionA Collection Agency or Out of State Collection Agency Bond is required for businesses that collect debts owed to other companies in Washington State. This $5,000 bond protects consumers from unethical practices like har…Who needs this bondCollection agencies operating in Washington—both in-state and out-of-state—that collect debt on behalf of a debt owner or debt buyer must obtain this $5,000 surety bond to comply with state licensing requirements. This …
