New York, NY — Collection Agency Bond
Use this $5,000 bond for a New York City debt collection agency license when your agency collects child support payment debts. The Department of Consumer and Worker Protection (DCWP) makes it a child-support filing requirement, including for agencies based outside the city. It is not a bond requirement for every debt collector.
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- Recorded state
- New York
- Category
- Financial services
What this bond does
This is financial security for the agency's licensing obligations, rather than the license itself. Under NYC Administrative Code section 20-494.1(g), the agency and a surety approved by the commissioner execute the bond, which is payable to the City of New York.
- Who needs it
- This bond is required for businesses whose principal purpose is to regularly collect or attempt to collect personal or household debts from New York City residents, specifically those collecting child support payment debts. It applies to agencies regardless of their physical location, including those based outside of New York State.
- Who it protects
- The bond secures compliance with the city's debt collection subchapter and its rules. It also backs payment of fines, penalties or other obligations to the city within 30 days of imposition, and final judgments awarded to people who received the agency's child-support collection services and were damaged by them. It does not guarantee that a parent's support debt will be collected.
Your bond option
This is the option on record for this bond.
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The bond amount describes the limit of the bond obligation, not the price. A listed amount does not establish what the requesting party requires. The premium is what you pay and must be confirmed for the actual option. An E&O limit, where listed, is separate errors and omissions insurance.
Sources
- NYC Debt Collection Agency License Checklist (opens in a new tab)Checked October 18, 2026
- NYC Administrative Code section 20-494.1 (opens in a new tab)Checked October 27, 2026
Have these ready
- Verify that your business entity name, DBA, and address on the bond are identical to the information provided on your DCWP license application.
- Ensure the City of New York is correctly named as the Certificate Holder on the bond document.
- Obtain a formal receipt from your bonding company confirming that the bond is paid in full.
- Confirm the bond term remains active through the end of your designated DCWP licensing period.
- Have your child-support disclosure form and standard service contract ready for the DCWP application.
Questions about this bond
Is this bond required for all debt collection agencies in New York City?
No, this specific $5,000 bond requirement is tied to agencies that collect child support payment debts.
Who must be named as the certificate holder on the bond?
The City of New York must be named as the certificate holder on the surety bond.
Does my agency need this bond if we are located outside of New York State?
An agency outside New York State still needs this bond if it collects child-support payment debts under the NYC license. The checklist applies regardless of the agency's location.
What documentation must I provide to prove the bond is paid?
You must submit a copy of the bond receipt showing the bond is paid in full and active for the duration of the licensing period.