City of Buffalo, NY Collection Agency Bond
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General Information
Why Do I Need a City of Buffalo Collection Agency Bond?
Under Chapter 140 of the City of Buffalo Ordinances, any individual or business conducting debt collection activity within Buffalo, NY is required to obtain a Collection Agency License—even if your principal place of business is located outside city limits. As a mandatory condition of that license, the City of Buffalo requires applicants to file a $5,000 surety bond with the Office of Licenses.
The City of Buffalo collection agency bond is filed pursuant to Chapter 140-9 of the City of Buffalo Ordinances. It guarantees that the licensed agency will faithfully comply with all applicable city regulations governing collection activity and will pay any damages caused by misstatement, misrepresentation, fraud, deceit, or any unlawful act committed by the agency or its employees in the course of conducting business. Any person harmed by the agency's conduct may file a claim against the bond within one year of the cause of action accruing.
Fast & Simple Bond Solutions – Instant Issue, No Credit Check Required
BondAbility issues the City of Buffalo Collection Agency Bond instantly—no lengthy application, no underwriting review, and no credit check required. Your Buffalo, NY collection agency bond is emailed to you immediately after payment and is ready to submit with your license application to the City of Buffalo Office of Licenses.
Buffalo Collection Agency Bond Pricing
| Bond Amount | Term | Price | Credit Check Required |
|---|---|---|---|
| $5,000 | 1 Year | $100 | No |
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How To Get Licensed as a Collection Agency in Buffalo, NY
To obtain a Collection Agency License in Buffalo, NY, applicants must submit a complete application package to the City of Buffalo Office of Licenses at 65 Niagara Square, Room 301, Buffalo, NY 14202. The steps below outline what is required:
- Complete the application. A physical person must be named as the applicant. The signature must be notarized. Mailed applications are accepted.
- Attach financial documentation. Submit a recent financial statement and/or the prior year's income tax return for the company, corporation, or individual applicant.
- Submit a police record check. The primary applicant must obtain this from their local police agency where they reside.
- Provide proof of business name. Submit a Corporate Filing Receipt or DBA documentation.
- File the $5,000 surety bond. The City of Buffalo collection agency bond must include the bond number on its face, notarized signatures from both the Principal and the Attorney-in-Fact, and a Power of Attorney and Assets & Liability sheets with seals affixed.
- Submit payment. The license application fee is $800.00, payable to the City of Buffalo.
Collection agencies operating anywhere within Erie County and the City of Buffalo—regardless of where the business is headquartered—must comply with these requirements before conducting any collection activity in the city.
Bond Details at a Glance
- Bond Amount: $5,000
- Term: 1 Year
- Price: $100
- Credit Check: Not required
- Obligee: City of Buffalo Office of Licenses
- Obligee Address: 65 Niagara Square, Room 301, Buffalo, NY 14202
- Governing Ordinance: Chapter 140-9, City of Buffalo Ordinances
Frequently Asked Questions
Who needs a City of Buffalo collection agency bond?
Any individual or business performing debt collection activity within the City of Buffalo, NY must obtain a Collection Agency License and file a $5,000 surety bond—even if the agency's office is located outside Buffalo or outside Erie County.
How fast will I receive my bond?
Immediately. Your City of Buffalo collection agency bond is emailed within minutes of payment.
Is a credit check required?
No. BondAbility issues this bond instantly with no application and no credit check required.
What are the bond execution requirements?
The City of Buffalo requires the bond number to appear on the face of the bond, notarized signatures from both the Principal and the Attorney-in-Fact, and a Power of Attorney and Assets & Liability sheets with seals affixed. BondAbility provides all required bond documentation upon purchase.
How much does a Buffalo collection agency license cost?
The City of Buffalo charges an $800 license application fee. The surety bond, available through BondAbility, is an additional $100 for a one-year term.
What happens if a claim is filed against my bond?
If a valid claim is made—such as fraud, misrepresentation, or failure to comply with Buffalo's collection agency ordinances—the surety may pay the claim up to the $5,000 bond amount. The licensed agency is then responsible for reimbursing the surety in full.
Do I need to renew my bond annually?
Yes. The collection agency bond term is one year and must remain active for the duration of your City of Buffalo Collection Agency License.