North Carolina — Collection Agency Foreign Bond #1 (UPDATED)
North Carolina's foreign collection agency Bond #1 protects clients' collection money. Foreign means the applicant is incorporated elsewhere in the United States, not outside the country. Confirm whether DOI needs initial CA-F1 security or a renewal amount; UPDATED is the catalog label, not proof of a particular form revision.
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- Recorded state
- North Carolina
- Bond type
- Collection Agency Bond
- Category
- Financial services
What this bond does
Bond #1 indemnifies clients for collection money the agency has not accounted for. It is separate from foreign Bond #2, which addresses Department of Insurance expenses in specified insolvency proceedings. Ordering one does not satisfy the other's condition.
- Who needs it
- Collection agencies incorporated in a US jurisdiction outside North Carolina and seeking or maintaining the relevant North Carolina permit. Office location or an owner's citizenship does not determine foreign status. Applicants incorporated outside the United States fall under the different alien classification.
- Who it protects
- The CA-F1 model binds the principal and surety jointly and severally to North Carolina for the benefit of clients whose accounts the agency collects. Its unaccounted-money condition continues until the relevant client money is accounted for, with aggregate surety liability limited to the required bond amount. Permit expiration, suspension or revocation does not automatically erase existing obligations.
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
- North Carolina DOI — foreign initial bond packet (opens in a new tab)Checked October 27, 2026
- North Carolina DOI — foreign renewal bond packet (opens in a new tab)Checked October 27, 2026
- North Carolina General Statutes 58-70-20 — bond requirements (opens in a new tab)Checked October 27, 2026
- North Carolina DOI — collection agency licensing and domicile guidance (opens in a new tab)Checked October 27, 2026
Have these ready
- Confirm incorporation in a US jurisdiction outside North Carolina.
- Identify initial CA-F1 versus renewal security and the actual requested revision.
- Bring direct collection and earned-commission figures if a renewal calculation applies.
- Match legal name, FEIN, permit details, amount and next June 30 instructions.
- Arrange signatures, seals, surety acknowledgment and DOI delivery separately from NCLMS licensing.
Questions about this bond
Does UPDATED tell me which form DOI accepts?
It is the catalog label. Compare the provider's issued document with the actual current request. DOI's posted initial and renewal CA-F1 models have different revision markings and amount fields, so the label alone does not determine the appropriate stage or form.
Is foreign Bond #1 the Department expense bond?
No. CA-F1 protects clients for unaccounted collection money. Foreign Bond #2 has the separate Department visiting and examination expense condition tied to the agency's federal bankruptcy or state receivership.
Does a North Carolina office make the company domestic?
DOI defines these classifications by incorporation. A company incorporated elsewhere in the United States is foreign for this purpose; moving or opening an office in North Carolina does not itself change that legal domicile.