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What is Florida Commercial Collection Agency Bond?

In order to get a Florida Business Registration Certificate, one must first apply for the bond that is required by law. The laws are put in place to protect Floridians from any potential harm or financial loss should the company fail to comply with registration regulations.

Need a Florida – Commercial Collection Agency ($50,000) Bond?

Swiftbonds provides commercial collection agency bonds for businesses in Florida. We offer both single and blanket bonds that meet all of the state's requirements.

Our team can help you get bonded quickly and easily so that you can continue running your business without interruption. Call us today at (913) 214-8344 or email us at [email protected] to learn more about how we can help!

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How does Florida define Commercial Collection Agency?

Florida Statute 559.543 defines this type of business as any company that solicits or collects both direct and indirect collections on behalf other companies with unpaid debts owed by its clients during routine operations such as bankruptcy proceedings or litigation against an individual debtor's assets after defaulted consumer loans (such as credit cards). See a Broward County, FL – Rental Car Concession and Lease Bond.

Do you know what Florida requires of commercial collection agencies? 

The State does not require any liability insurance as a prerequisite to obtaining the business registration but they do have some specific requirements when it comes to surety bonds. Commercial collectors must purchase and maintain at least $50,000 worth of bond coverage before completing their application for certification from the state.

How do Florida Commercial Collection Agencies file their Bond?

State-regulated collection agencies in Florida must submit a surety bond when applying for licensure. In order to get licensed, the application should include completed forms and signatures from both the agency's representative as well as their designated bonding company — which can be found on this list of certified vendors. Read a Brevard County, FL – Game and Fish Licensee and Permit Agent Bond.

What can Florida Commercial Collection Agencies do to avoid claims against their Bond?

Recognizing the risks involved in commercial collections, Florida's legislature has created specific legislation to help protect collection agencies and ensure they don't fall victim to fraudulent claims. To avoid these types of allegations against their bond, all a company needs to do is make sure not engage in any acts of fraud when collecting from consumers like you!

What other insurance products can agents offer Commercial Collection Agencies in Florida?

Florida does not require commercial collection agencies to purchase liability insurance and a license is enough. However, it's always good practice for the business owner to have some form of protection in case something goes wrong or they're sued by someone with an injury resulting from their work. Find a Brevard County, FL – Disposal Charges Bond.

Can I get a Florida Commercial Collection Agency Bond with bad credit?

Swiftbonds offers a wide-range of approvals, regardless of credit history or bad credit. One key factor in our success is that we are able to work with 99% of applicants who have been turned down elsewhere due to their poor financial standing. Our knowledgeable underwriting staff will make sure you get the lowest possible price for your bond no matter what personal circumstances may be preventing you from getting approved for other companies' bonds.

How to get your Florida Commercial Collection Agency Bond?

Would you like to know the first step in getting your Florida Commercial Collection Agency Bond? It's super easy! Fill out our quick online application and get a no obligation quote today. Our Underwriters will contact you within an hour of submission, or come chat with them on the phone for help applying. Need a Florida – Branch Auto Tag Bond.