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Buffalo, New York Collection Agency Bond

How much does a collection agency bond cost in Buffalo, New York?

If you or your business acts as a collection agency within the City of Buffalo, you are mandated to post a surety bond in the amount of $5,000.

Bonds are subject to underwriting. This means that your premium is deciphered by the financial credentials of your credit report. To find out the cost of your bond, submit a bond request or call 1 (800) 308-4358 and a surety specialist will assist you with all of your bonding needs.

Bond Type Bond Amount Cost by Credit Score*
680 and up 679 - 600 599 or lower
Buffalo Collection Agency Bond $5,000 Starts at $100 $200-400 $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.

Low credit? No problem! SuretyBonds.com offers a bad credit bonding program just for you. Complete a bond request to get in touch with a surety specialist today.

Why do I need this bond?

By posting a bond, the principal (collection agency) obligates to truly comply with the provisions of Chapter 140 of the Buffalo City Code. Specifically, this bond offers indemnity to any person who suffers a damage by any unlawful act of the principal.

Have a question? Contact us to speak with a bonding expert. Fill out our easy bond request form or call 1 (800) 308-4358 to get started.

What’s the fine print?

All bonds will remain in full effect unless voided. Furthermore, all bonds must be notarized.

How to become a collection agency in Buffalo, New York

Collection agency license applications must be sent to the Office of Permit and Inspection Services. Applications must be completed in full and include the following attachments:

  • copy of the financial statement
  • $5,000 surety bond
  • police record check
  • corporate filling receipt
  • licensing fees

Click here to apply for your free quote today.

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Additional Resources

City of Buffalo - Collection Agency License

Collection Agencies Chapter 140

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