Who requires it
Delaware Secretary of State
License & permit · Delaware
Delaware Credit Services Organization Bond
A Delaware credit services organization that wants to charge or receive money before finishing every service promised to a buyer must first obtain a $15,000 surety bond from a surety authorized in Delaware or establish a $15,000 surety account at a federally insured bank or savings and loan located in the State. Section 2404 requires a copy of the bond—or official depository notice of the account—to be filed with the Secretary of State. The coverage runs in favor of the State and of any person damaged by a chapter violation; claims cannot exceed $15,000.
Common bond amount
$15,000
Bond or surety account required when taking prepayment (6 Del. C. § 2404).
How you file
Surety bond or federally insured Delaware surety account
Renewal
Maintain until two years after ceasing Delaware operations
Who requires it
Credit services organizations described in 6 Del. C. §2402 that accept prepayment before completing all agreed services, unless an exemption in §2402(b) applies.
How much is required
Section 2404(e) fixes the bond or surety account at fifteen thousand dollars. The statute does not publish volume tiers for this instrument.
How to get and file it
Register the credit services organization with the Secretary of State, then either purchase a $15,000 surety bond and file a copy or open a compliant surety account and file the depository’s official notification showing the institution, organization name, account number, and trust terms. Keep the bond or surety account in place until two years after the organization ceases Delaware operations. Update the registration statement within ninety days after any change in required information. Buyers must be able to inspect a copy of the registration statement on request.
Cost note
Fifteen thousand dollars is the required bond or account amount, not the premium you pay. See bond amount vs premium. Bond amount vs premium →
Requirement checklist
- Required amount
- $15,000 bond or surety account
- Filing
- Bond copy or depository notice with the Secretary of State
- Trigger
- Required before charging or receiving prepayment (§ 2403(1))
Official sources
Related resources
Frequently asked questions
Can a Delaware CSO use a bank account instead of a surety bond?
Yes. Section 2404 allows either a $15,000 surety bond or a $15,000 surety account at a federally insured bank or savings and loan located in Delaware, with official depository notice filed with the Secretary of State.
Do all credit-repair firms need the bond?
The bond or surety account is required when the organization charges or receives consideration before completing all agreed services. Firms that never take prepayment should still confirm registration and other Chapter 24 duties, and check whether an exemption in §2402(b) applies.
Related Delaware bond guides
Debt Management Services Bond
≥ $50,000
Every licensed debt-management services provider under Delaware’s Chapter 24A must file an original surety bond—issued by a surety authorized in the State—with the Attorney General. Section 2413A sets a floor of $50,000 and lets the Attorney General fix a higher amount after considering the provider’s Delaware business and related risk factors. The bond runs to the State for the Attorney General and for consumers injured by wrongful acts, omissions, default, fraud, or misrepresentation in the licensed activity. Section 2414A allows the Attorney General, at discretion, to accept an irrevocable letter of credit instead of the bond in the same determined amount.
Mortgage Broker / Lender Bond
$25,000 / $50,000–$200,000
Delaware mortgage loan brokers licensed under Title 5 Chapter 21 must file a $25,000 surety bond—or a Commissioner-accepted irrevocable letter of credit—with the Office of the State Bank Commissioner under §2108. Licensed lenders under Chapter 22 instead carry a Commissioner-set bond between $50,000 and $200,000 under §2208. Regulation 2204 translates that statutory range into a prior-year Delaware loan-volume table stepping from $50,000 through $200,000, and the Commissioner may demand a larger amount based on individual circumstances. A qualifying company bond may cover mortgage loan originators who are employees or exclusive agents when Chapter 24 and Regulation 2401 coverage rules are satisfied; an irrevocable letter of credit may not be used to cover originators.
Money Transmitter Bond
$100,000–$500,000
Money transmitters licensed under Delaware’s Money Transmission and Virtual Currency Modernization Act must file an original surety bond with the Office of the State Bank Commissioner. Section 2309 directs the Commissioner to set the amount anywhere from $100,000 to $500,000 after weighing the licensee’s average daily Delaware money-transmission liability, tangible net worth, total assets, and any other factor the Commissioner finds relevant. A licensee that posts the $500,000 maximum need not calculate average daily liability. The bond runs to the State for the Commissioner and for consumers injured by wrongful acts, omissions, default, fraud, or misrepresentation in the licensed activity; claims cannot exceed the bond amount.
Surety basics (not repeated here)
Universal surety concepts explained once—linked here instead of repeated on every state or bond page.
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Last verified 2026-08-11. This guide is based on verified educational content and official sources.
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