Collection Agency Bond

Florida Collection Agency Bond

OFR commercial collection $50,000 surety under FAC 69V-180.010

Florida commercial collection agencies must maintain a $50,000 surety bond with OFR using Form OFR-COM-103 under FAC 69V-180.010.

Overview

What Is a Florida Collection Agency Bond?

A Florida commercial collection agency bond is the $50,000 surety security required to operate as a commercial collection agency under Florida Office of Financial Regulation rules.

Key Provisions
  • Guarantees compliance with FAC 69V-180.010
  • Protects the obligee named on the Florida bond form
  • Remains subject to the penal sum and bond conditions
Surety Obligation Overview

What Does This Bond Guarantee?

The surety bond guarantees that the principal will perform the duties required under FAC 69V-180.010 up to the penal sum.

Principal
The party required to obtain the bond and perform the underlying obligation.
Obligee
Florida Office of Financial Regulation
Surety
The company issuing the bond and guaranteeing the obligation to the obligee.

When a claim may arise

A claim may arise if the principal fails to comply with the bonded Florida obligation or causes covered loss to the obligee or protected parties.

If a claim is valid

If a claim is valid, the surety may pay up to the bond penalty according to the bond terms; the principal remains liable to reimburse the surety.

Scope of the Obligation
  • Comply with FAC 69V-180.010
  • Satisfy Florida Office of Financial Regulation filing conditions
  • Maintain the bond for the required term
Bond terms

Bond summary

Amount, premium, term, and the authority that requires this filing.

Eligibility

Who Needs This Bond?

Persons acting as a commercial collection agency in Florida need this bond continuously in force.

Who Is Required to File
  • Applicants required by Florida Office of Financial Regulation (OFR)
  • Florida businesses renewing or expanding licensed activity
  • Out-of-state firms filing into Florida markets
Requirements

What You Need to Apply

Execute Form OFR-COM-103 with an admitted surety for $50,000 and file with OFR; keep the bond free of blank spaces and fully executed.

Required Documentation
  1. Legal entity name matching the license or filing
  2. Bond amount: $50,000 commercial collection agency surety bond (Form OFR-COM-103)
  3. Florida obligee form or statute citation
  4. Owner or officer identification for underwriting
Filing

How this filing works

  1. 01

    Confirm the Florida requirement

    Share your license type, court order, or obligee form and the exact penal sum required by Florida Office of Financial Regulation (OFR).

  2. 02

    Underwrite and price

    We review credit and filing details, then quote premium options through licensed surety markets.

  3. 03

    Issue and file

    Once approved, we issue the bond for delivery to Florida Office of Financial Regulation or for your Florida filing package.

FAQ

Frequently Asked Questions

What is the required amount for a Florida collection agency bond?

The amount is $50,000 commercial collection agency surety bond (Form OFR-COM-103), as set under FAC 69V-180.010 and confirmed with Florida Office of Financial Regulation (OFR).

Who is the obligee on a Florida collection agency bond?

The obligee is typically Florida Office of Financial Regulation. Always match the exact name on the Florida form.

How long does it take to get the bond?

Many Florida filings can be underwritten the same day when documents and credit are complete; complex amounts may take longer.

Does bad credit prevent approval?

Not always. Premium and collateral options vary by credit and bond size — ask for markets that still write the risk.

How do I renew the bond?

Most bonds renew on the term shown (1 Year). Keep continuity so your Florida license or filing does not lapse.

Authority Resources

Florida Office of Financial Regulation (OFR)

flofr.gov

Next step

Ready to file this bond?

We’ll match the requirement and route the application.

Apply for this bond

Or call (877) 477-7578