How much does a collection agency bond cost in Alaska?
The Alaska Department of Commerce, Community and Economic Development requires collection agencies to post $5,000 surety bonds.
SuretyBonds.com issues these bonds instantly without a credit check for just $100! All applicants pay the same low price for the surety bonds they need. Get bonded now!
|Bond Type||Bond Amount||Cost*|
|$5,000 Collection Agency Bond||$5,000||$100||Buy Now|
Ready to get bonded? Submit a bond request or give our team a call at 1 (800) 308-4358 to get bonded instantly for just $100!
Why do I need this bond?
Collection agency bonds in Alaska exist to ensure that principals (collection agencies) report and pay the net proceeds and collections collected during that month to the clients they’re owed to within 30 days of the close of that month. Specifically, the bond ensures that principals comply with the provisions of AS 08.24 while on the job.
If the principal fails to comply with these terms, the bond protects harmed parties from financial loss up to the full penal sum of the bond.
What’s the fine print?
Alaska collection agency surety bonds are continuous until canceled. The surety can cancel the bond at any time by providing written notice of cancellation to both the principal and the Department of Commerce, Community and Economic Development at least 60 days prior to the effective date of cancellation.
How to become a collection agency in Alaska
To become licensed as a collection agency in Alaska, applicants must submit the following materials:
- completed, signed and notarized application
- all applicable fees
- $5,000 surety bond
- and more
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