Any person or entity engaged as a third party in the business of collecting or receiving payment for others on any account, bill or other indebtedness from a consumer debtor, or collecting tax payments on behalf of a municipality or the U.S. Department of the Treasury. Required when: Application for or renewal of a co…
Overview
What it is.
Any person or entity engaged as a third party in the business of collecting or receiving payment for others on any account, bill or other indebtedness from a consumer debtor, or collecting tax payments on behalf of a municipality or the U.S. Department of the Treasury. Required when: Application for or renewal of a co…
Who usually needs it
Any person or entity engaged as a third party in the business of collecting or receiving payment for others on any account, bill or other indebtedness from a consumer debtor, or collecting tax payments on behalf of a municipality or the U.S. Department of the Treasury.
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.
StateCTBond amount$50,000Term lengthContinuousObligeeConnecticut Department of BankingRenewalThe bond must be maintained during the entire period of the license. Renewal of the license requires the bond to remain in effect and be filed electronically through the NMLS.Bond classLicense BondCategoryFinancial ServicesBondConsumer Collection Agency BondStatutory referenceConnecticut General Statutes Section 36a-802JurisdictionState
