Who requires it
Tennessee Collection Service Board
Financial / collection · Tennessee
Tennessee Collection Service Bond
Tennessee collection service agencies licensed by the Collection Service Board must keep a surety payable to the State sized by certified employee count—$15,000, $20,000, or $25,000—or assign a certificate of deposit in the same amount.
Common bond amount
$15,000–$25,000
By certified employee count: $15,000 (1–4), $20,000 (5–9), $25,000 (10+). Certificate of deposit may substitute.
How you file
File a surety bond payable to the State, or assign a matching certificate of deposit
Renewal
Keep in force during licensure; CORE Surety Bond Attachment for renewals
Who requires it
Persons who offer collection or purchase-for-collection services for a fee under the Tennessee Collection Service Act and who must hold a Collection Service Board license, unless an exemption applies (for example attorneys under the Act’s attorney exclusion). Own-account collectors and other statutory carve-outs stay outside this bond guide—confirm scope against Board licensing materials before you apply.
How much is required
Board CORE materials and T.C.A. § 62-20-106 set the surety from certified employees: $15,000 for one to four employees, $20,000 for five to nine, and $25,000 for ten or more. A certificate of deposit in those same amounts may replace the surety when assigned to the Board. The bond is conditioned on performing client agreements and accounting for net collections under the chapter.
How to get and file it
Order a surety for the correct employee-count tier from a Tennessee-authorized surety, payable to the State of Tennessee, or arrange a matching CD assignment. Apply through CORE with the current $750 fee, CPA/PA financial statements, and trust-account evidence the Board requires under T.C.A. §§ 62-20-114 and 62-20-102. Upload the bond with the initial CORE application and keep an active surety bond (or certificate of deposit) for the entire license period. When a bond term ends, Board renewal pages accept a continuation certificate through a CORE Surety Bond Attachment—mailing a paper bond is not required for that renewal path. Update the amount if certified employee count moves you into a higher tier.
Cost note
The $15,000–$25,000 schedule is the required bond amount (or certificate-of-deposit amount), not the premium you pay. See bond amount vs premium. Bond amount vs premium →
Requirement checklist
- Employee tiers
- 1–4 employees $15,000; 5–9 $20,000; 10+ $25,000
- Alternative
- Certificate of deposit in the matching amount assigned to the Board
- Who the bond names
- State of Tennessee
- Companion filings
- CPA/PA financial statements and trust-account proof as Board materials require
Official sources
Related resources
Frequently asked questions
How do I know which bond amount to buy?
Use your certified employee count: $15,000 for one to four employees, $20,000 for five to nine, and $25,000 for ten or more. Move up a tier when headcount crosses those thresholds.
Can a certificate of deposit replace the surety?
Yes. Board licensing pages and § 62-20-106 allow a CD in the same dollar amount, assigned to the Board, instead of a surety bond.
Do attorneys need this collection service bond?
The Collection Service Act exempts attorneys at law from the Act’s licensing scheme. Confirm any narrow facts with Board counsel materials before assuming an exemption.
Surety basics (not repeated here)
Universal surety concepts explained once—linked here instead of repeated on every state or bond page.
Continue with a Tennessee application
Tennessee will be preselected. Choose your bond type in the application—we confirm the correct product against your agency form before anything is issued.
Last verified 2026-08-10. This guide is based on verified educational content and official sources.
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