Hawaii Collection Agency Bond
AmeriPro Surety Bonds | 844-589-9732
Collection Agencies – Hawaii
Collection agencies operating in Hawaii are licensed and regulated by the state’s Department of Commerce and Consumer Affairs.
Obtaining a surety bond is required as a condition of licensing. The surety bond requirement for collection agencies is as follows:
- $25,000 surety bond for the first location;
- An additional $15,000 surety bond for each additional location.
Qualifying and the Premium
Applicants who require a $25,000 or $40,000 Hawaii collection agency bond will have streamlined processing.
What this means is that after completing a short surety bond application — which we’ll take from you verbally over the phone — and paying the required premium, these two bond amounts are issued to you immediately and without a credit check.
The premium breakdowns are as follows:
- A $25,000 surety bond amount has a $188 annual premium;
- A $40,000 surety bond amount (for two locations) has a $300 annual premium.
For 3 or More Locations
If your Hawaii collection agency has 3 or more locations in the state, a signed application and credit review by an underwriter are also required. Good credit will be required for approval and the response is typically received within a few business hours after submission.
Once the premium is paid for your bond, our agency issues it to you immediately. Upon receipt, you’ll sign your bond as Principal and have your bond notarized before filing. Our agency will have the bond notarized as Surety.
The address to file your surety bond is:
State of Hawaii
Department of Commerce and Consumer Affairs
Honolulu, HI, 96801
Additional Premium Payment Options
The premium associated with your surety bond is active for one year. Our agency also offers you the option to prepay your premium up to 3 years, thereby offering you a savings over year to year renewal of your bond’s premium.
As an example, with a $40,000 Hawaii collection agency surety bond:
- If prepaid for 2 years, the premium is $540, a $60 savings;
- If prepaid for 3 years, the premium is $780, a $120 savings.
Purpose of The Surety Bond Requirement
The purpose of your surety bond is to serve as a financial guarantee which ensures your compliance with Chapter 443B and any future amendments to these statutes. This does not exclude any other related and applicable laws.
AmeriPro Surety Bonds is a surety bonds-only agency which provides collection agency bonds nationwide.
We are also a provider of license and permit bonds in all 50 states.
Please call our agency today at:
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