A Nebraska collection agency bond must be provided by an applicant to the state licensing board before the board will consider granting a license. Nebraska statute defines a “collection agency” as all persons, firms, corporations, and associations directly or indirectly engaged in soliciting, from more than one person, firm, corporation, or association, claims of any kind owed or due or asserted to be owed or due such solicited person, firm, corporation, or association, and all those engaged in asserting, enforcing, or prosecuting such claims (NRS 45-602). A Nebraska collection agency bond is also required from any person, firm, corporation, or association which, in attempting to collect or in collecting his, her, or its own accounts or claims, uses a fictitious name or any name other than his, her, or its own OR sells any system or series of letters or forms for use in the collection of accounts or claims which assert or indicate that the claim or account is being collected by any other person, firm, corporation, or association other than the creditor or owner of the claim or demand. NRS 45-608 states that a Nebraska collection agency bond issued by a “good and sufficient corporate surety” must be provided in the sum of fifteen thousand dollars for those agencies or foreign corporations having sixteen or more licensed solicitors, ten thousand dollars for any agency having five to fifteen licensed solicitors, and five thousand dollars for any agency having less than five solicitors. The Nebraska collection agency bond must be payable to and approved by the Board and conditioned that the licensee shall faithfully and truly perform all agreements entered into with the licensee’s clients or customers and shall, within forty-five days after the close of each calendar month, report to and pay to his customer the net proceeds of all collections made during the preceding calendar month. The surety bond must be in a form approved by the Board and must be filed in the office of the Secretary of State. No person shall be required to post a Nebraska collection agency bond in excess of one hundred thousand dollars. Nebraska surety leader, Surety One, Inc. specializes in the bonding needs of the insurance and financial services sector. We offer this type of surety bond to all applicants in every state where collection agencies must be bonded. We also offer broad fidelity bond coverages especially for colletions agencies to mitigate the risk of internal dishonesty losses. Visit SuretyOne.com, call (787) 333-0222 or (800) 373-2804, or email Underwriting@SuretyOne.com for an Nebraska collection agency bond application or information about any bonding need.
