What is the Purpose of Having a Collection Agency Bond?

The primary job of a collection agency is to collect debts and manage important personal information about the customers and their financial records. Since the job of a collection agency involves high risk, having a surety bond as a guarantee becomes a necessity for all collection agencies. This surety bond, which is also known as Collection Agency Bond is there to enhance the trustworthiness and reliability of the agency being hired to manage a customer’s debt. In the US, most of the state read more

Who Needs Public Official Bonds and Why

Public official bonds are a type of Surety Bond required of public officials. The principle here is the public official; the obligee is the government asking for the bond. The purpose of the bond is to protect the general public from any misconduct by officials holding a position of power or trust in the government. Who requires a Public Official Bond? The Public Official Bond is typically required of officials who work with sensitive information or money. Such officials usually hold a positio read more

What You Need to Know About License & Permit Bonds

If you are preparing to start a business or striking out on your own as a professional, chances are that you have heard of License & Permit Bonds. As the name suggests, these bonds are required from certain businesses or professions before they can obtain licenses or permits. However, there are some essential facts that you must know about these bonds before buying one. There are different types of License & Permit Bonds There are many types of License & Permit Bonds. This is becau read more