Who requires it
Pennsylvania Department of State (Credit Services Act bond form)
License & permit · Pennsylvania
Pennsylvania Credit Services Organization Bond
Credit services organizations that want to charge or receive money before fully performing contracted services must post a Credit Services Act surety bond—or establish a qualifying trust account—sized to recent buyer fees, with a $5,000 floor and $25,000 ceiling.
Common bond amount
$5,000–$25,000
Five percent of prior-12-month buyer fees under the Credit Services Act, floored at $5,000 and capped at $25,000—or a matching trust account.
How you file
Surety bond or statutory trust account, using the Department of State form
Renewal
Adjust annually by the tenth day of the first month of the fiscal year
Who requires it
Credit services organizations and their salespersons, agents, and representatives who sell or attempt to sell credit services and who take payment before complete performance, as 73 P.S. §§ 2181–2192 and the Department of State bond instructions describe. Organizations that never take advance fees follow the Act’s other compliance rules without this advance-fee security path.
How much is required
Official bond instructions implement the Credit Services Act formula: the bond or trust account equals five percent of the total fees charged buyers under credit-services contracts during the previous twelve months, but not less than $5,000 and not more than $25,000. The amount adjusts once a year no later than the tenth day of the first month of the organization’s fiscal year.
How to get and file it
Calculate the required amount from the prior twelve months of buyer fees (or start at the $5,000 floor if you have no history), then execute the Commonwealth bond form with a surety admitted in Pennsylvania—or fund the statutory trust account alternative. Attach power of attorney when an attorney-in-fact signs, and obtain a Pennsylvania resident agent countersignature when the form’s out-of-state execution rules apply. Keep the bond or trust account at the required adjusted amount while you take advance fees. Recalculate by the annual adjustment deadline in the instructions and replace or increase the instrument before charging under a shortfall.
Cost note
The $5,000–$25,000 range is the required bond amount (or trust-account balance), not the premium you pay. See bond amount vs premium. Bond amount vs premium →
Requirement checklist
- Formula
- 5% of prior-12-month buyer fees under credit-services contracts
- Floor / ceiling
- Never less than $5,000 or more than $25,000
- Alternative
- Qualifying trust account in accordance with the Act instead of a surety bond
Related resources
Frequently asked questions
Is this the same as a mortgage broker bond?
No. Mortgage firms bond under the Mortgage Licensing Act with DoBS. This Credit Services Act instrument is for credit services organizations that take advance fees before completing services for buyers.
Can I use a trust account instead of a bond?
Yes. The Act and official instructions allow either a surety bond or a trust account meeting 73 P.S. § 2183, sized to the same percentage formula and limits.
Related Pennsylvania bond guides
Mortgage Licensing Act Bond
$25,000–$500,000 by license type
Mortgage brokers, lenders, servicers, and certain mortgage originators licensed under Pennsylvania’s Mortgage Licensing Act must maintain surety bonds in forms acceptable to the Department of Banking and Securities. Amounts follow license type and, for several categories, Pennsylvania dwelling/residential mortgage volume.
Money Transmitter Bond
$1,000,000
Anyone transmitting money—or, after Act 7 of 2025, virtual currency—for a fee under Pennsylvania’s Money Transmission and Virtual Currency Transmission Business Licensing Law must file a one-million-dollar surety with the Department of Banking and Securities through NMLS before a license issues or renews.
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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