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Collection agencies are considered high risk companies for a number of reasons, particularly their negative reputation with the public. They are required to handle sensitive financial information and collect debts from people who are often reluctant to pay. Because of the difficulty and risk inherent in their work, collection agencies require a special bond type, called a collection agency bond, to protect their client and themselves.
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| x |
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Agricultural bonds are required of agricultural packers, marketers, and dealers as per state regulations and the US Department of Agriculture’s requirements. Since these bonds are meant to enforce the rules of the Federal Packers and Stockyards Act, they are also known as agricultural packers and stockyards bonds.
| x |
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| x |
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Also known as a Cigarette Tax Bond, the Tobacco Tax Bond is a type of surety bond required of tobacco product sellers and dealers by government licensing bodies. The bond guarantees that the principal will pay taxes to the government and follow the industry rules and regulations.
| x |
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Collection agency bonds are required to collect debt on behalf of clients who are owed money. The bond is essential to license the agency and to ensure that the agency behaves in an appropriate manner.
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