Collection and Servicing Agreement Bond - Cascade Receivables Management, LLC in All States

Brief Summary

If Cascade Receivables Management has asked you for a bond before it signs or renews a collection and servicing agreement, this is that bond. You pay a premium instead of tying up cash as a deposit, and the executed bond goes straight to Cascade so the agreement can move forward.

This is a private contract bond, not a state license bond. Cascade Receivables Management, LLC, part of the Cascade365 family of companies, is the obligee. The bond is posted by the company that agrees to collect or service accounts under a collection and servicing agreement with Cascade, and it backs that company's promise to perform the agreement and handle the money it collects as the contract requires. The bond amount and wording are set by Cascade and the agreement, so confirm both with Cascade before the bond is issued.

We can help with all All States bonds!

How to Apply for a Collection and Servicing Agreement Bond:

• Get the required bond amount and any required bond form from Cascade Receivables Management or from your collection and servicing agreement.
• Have your legal business name exactly as it appears in the agreement.
• Provide owner names, home addresses and Social Security numbers for the credit review.
• Complete the bond application and review the quoted premium.
• Pay the premium and receive the signed bond.
• Deliver the original bond to Cascade as the agreement directs.

Detailed Information About the All States Collection and Servicing Agreement Bond:

Who the obligee is

Cascade Receivables Management, LLC operates under the Cascade365 name. According to its own site, Cascade365 is a family of companies that buys distressed accounts receivable outright or manages them for a fee for consumer lenders and healthcare providers. Its healthcare page says its collection servicing works by partnering with specialized billing and recovery firms.

Who posts the bond

The bond is furnished by the business on the other side of a collection and servicing agreement with Cascade. That is usually a collection agency, law firm or servicer that works accounts Cascade owns or manages. Cascade is named as obligee and the bond protects Cascade, not the general public.

What the bond guarantees

A contract bond like this one guarantees that the principal will do what the agreement says. In a collection and servicing arrangement that normally centers on collecting accounts lawfully and remitting the funds owed to Cascade on time. If the principal fails to do so and Cascade suffers a loss, Cascade can make a claim against the bond up to its full amount. The surety pays a valid claim and then looks to the principal for repayment.

This is separate from any state license

This bond does not replace a collection agency license or license bond that a state may require. Those are filed with state regulators. This one is filed only with Cascade.

Amount and form

Cascade sets the bond amount and may supply its own bond form. Use the amount and wording stated in your agreement or in Cascade's written request, and confirm the current form and filing steps with Cascade before the bond is issued.

Cost

Premium is a fraction of the bond amount. The rate depends mainly on the owners' personal credit, the financial strength of the business and its collection history.

Eligibility and Requirements for an All States Collection and Servicing Agreement Bond:

• Cascade Receivables Management, LLC named as obligee.
• Bond amount matching what Cascade or the agreement requires.
• Principal name matching the contracting entity on the agreement.
• Owner credit review, which mainly affects the premium rate.
• Any state collection license you hold is maintained separately and is not replaced by this bond.

All States Collection and Servicing Agreement Bond FAQs:

Official and Additional Resources for the All States Collection and Servicing Agreement Bond: