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Hawaii Collection Agency Bond

How much does a collection agency bond cost in Hawaii?

Collection agencies in Hawaii must post surety bonds prior to conducting business. The required bond amount for the first office is $25,000, and the required bond amount for each additional office is $15,000.

These bonds are subject to underwriting consideration, so the price you’ll pay depends on a review of your personal credit report. Qualified applicants could pay as low as $250 or $150 for their bonds, respectively. Request your free bond quote now!

Bond Type Bond Amount Cost by Credit Score*
680 and up 679 - 600 599 or lower
Collection Agency Bond First office $25,000 Starts at $250 $1,000-$2,000 $2,500+ Apply Now
Collection Agency Bond Each additional office 15,000 Starts at $150 $600-$1,200 $1,500+ Apply Now
*The bond premium rate quotes provided to you through this website are for pricing comparisons and quotation estimate purposes only. The bond rate quotes provided are based on general assumptions that may or may not be applicable to you and are subject to change at any time. These rate quotes do not constitute an offer of insurance, nor is any contract, agreement, or bond coverage implied, formed or bound by the provision of rate quotes. Bondability, final bond premium rate quotes and an offer of insurance, if any, will be determined by the insurance company providing your bond. You must contact us directly to obtain a quote for binding purposes.

We can typically provide your free, no-obligation bond quote within 1 business day of submitting your application. Call 1 (800) 308-4358 or submit an online bond request now to get started!

Why do I need this bond?

By posting a Hawaii collection agency bond, principals (collection agencies) pledge to comply with Chapter 443B of the Hawaii Revised Statutes and promptly account for and pay all net proceeds due on collections within 30 days after the end of the calendar month in which the collections were obtained.

These bonds protect harmed parties from financial loss if the principal fails to comply with these terms and conduct ethical and lawful business. The principal must reimburse the surety in a timely manner for any damages paid out.

Apply for your free Hawaii bond quote bond now!

What’s the fine print?

A collection agency in Hawaii must have a surety bond in force at all times for all offices unless notice is delivered by the surety. These bonds can be canceled by the surety if the surety gives written notice of cancellation to the to the state and the collection agency at least 60 days prior to the effective cancellation or termination date.

How to become a collection agency in Hawaii

To be legally registered as a collection agency in Hawaii, agencies must do the following:

  • file and maintain a bond with the director in the sum of $25,000 for the first office and $15,000 for each additional office
  • pay appropriate fees
  • submit an application for registration

To conduct collection agency business in Hawaii, an agency must:

  • have and maintain a regular active business office in Hawaii
  • designate a principal collector to assume the responsibility for the direct management and control of the operation of the office

Take the first step toward becoming licensed in Hawaii by requesting your free bond quote now!

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Requirements for Registration - Collection Agencies

Chapter 443B Collection Agencies

Bond Form - Collection Agency

Verification of License - Collection Agency

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