Alaska Collection Agency Bond

Alaska Collection Agency Bond

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What is an Alaska Collection Agency Bond? 

Alaska Collection Agency Bond's are required by Alaska's Department of Commerce to obtain your Alaska Collection Agency Bond. The Alaska Collection Agency Bond amount is set at $5,000. The condition of this obligation is such that, whereas the bonded principal, named above, has applied to the Department of Commerce, Community, and Economic Development of the State of Alaska for a collection agency license under the provisions of AS 08.24 and is required by the provisions of that law to furnish a bond conditioned as set out in this document.

The State requires a Collection Agency bond for :  

a $5,000 surety bond


Different parts of a bond:

 There are 3 parts to a Collection Agency surety bond. The Principal "YOU", The Surety Company, and the Obligee. The Principal is the business or individual applying for the Collection Agency Surety Bond. The Obligee is the individual or entity requiring the Surety Bond and the Surety Company is the company who provides the Surety Bond coverage.

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Alaska Collection Agency Bond Information and Requirements:

The Division of Corporations, Business, and Professional Licensing staffs the collection agency program. The Department of Commerce, Community, and Economic Development adopts regulations to carry out laws governing collection agencies and collection agency operators in Alaska. It makes final licensing decisions and takes disciplinary actions against people who violate licensing laws.

Regulated Professions
-Collection Agency
-Collection Agency Branch Office
-Collection Agency Operator

Collection agencies must also obtain an Alaska Business License.

Out-of-State Agencies

Licensure is not required for an out-of-state agency when the agency is only seeking to make collections from debtors within the state of Alaska.

Licensure is required when an out-of-state agency collects claims or solicits to collect claims on behalf of creditors (clients) based in Alaska.

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