This bond is required for businesses that collect debts on behalf of others in Utah. If you run a collection agency that contacts people to recover money they owe to creditors, you must have this $10,000 bond. It protects consumers from unfair or illegal collection practices. If your agency violates state collection l…
Overview
What it is.
This bond is required for businesses that collect debts on behalf of others in Utah. If you run a collection agency that contacts people to recover money they owe to creditors, you must have this $10,000 bond. It protects consumers from unfair or illegal collection practices. If your agency violates state collection l…
Who usually needs it
Collection agencies, collection bureaus, collection offices, or similar entities (including individuals, partnerships, corporations, or other business entities) that collect default accounts, debts, bills, or other indebtedness on behalf of others in Utah must obtain this $10,000 bond as a requirement for registration under Utah Code § 12-1-1. This applies …
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.
StateUTBond amount$10,000ObligeeState of UtahBond classLicense BondCategoryFinancial ServicesBondUtah Collection Agency BondJurisdictionStatePlain descriptionThis bond is required for businesses that collect debts on behalf of others in Utah. If you run a collection agency that contacts people to recover money they owe to creditors, you must have this $10,000 bond. It protec…Who needs this bondCollection agencies, collection bureaus, collection offices, or similar entities (including individuals, partnerships, corporations, or other business entities) that collect default accounts, debts, bills, or other inde…
