Collection and Servicing Agreement Bond - Jefferson Capital Systems, LLC in All States

Brief Summary

Jefferson Capital does not sell this bond. It asks for it. If your agency or firm is taking placements under a Jefferson Capital collection and servicing agreement, the bond backs your promise to handle and remit its collections as the contract requires, and it usually has to be in place before accounts are placed.

Jefferson Capital Systems, LLC of Sartell, Minnesota buys and services charged-off and bankruptcy consumer accounts and often uses third-party companies to service them. This bond is posted by a servicer under a Jefferson Capital collection and servicing agreement, with Jefferson Capital as obligee. Jefferson Capital does not publish the amount or form, so confirm both with your Jefferson Capital contact first.

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How to Apply for a Collection and Servicing Agreement Bond:

• Get the required bond amount and any bond form from Jefferson Capital or from your servicing agreement.
• Use the servicer's legal name exactly as it appears in the agreement.
• Complete the bond application and provide any financial statements the surety requests.
• Pay the premium and receive the executed bond naming Jefferson Capital Systems, LLC as obligee.
• Deliver the bond to Jefferson Capital as the agreement directs and keep it in force for the life of the agreement.

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

Who Jefferson Capital is

Jefferson Capital Systems, LLC describes itself as a purchaser and servicer of consumer charged-off and bankruptcy accounts, with operations in the United States, the United Kingdom and Canada. Its headquarters is at 200 14th Ave E in Sartell, Minnesota. The company states that it frequently partners with third-party companies to service its accounts, and it holds RMAI Receivables Management certification.

Who posts this bond

The principal is the collection agency, law firm or other servicer that signs a collection and servicing agreement with Jefferson Capital. Jefferson Capital is the obligee. The bond guarantees that the servicer will meet its obligations under that agreement, including handling and turning over money collected on Jefferson Capital accounts. If the servicer fails to do so, Jefferson Capital can claim against the bond, and the servicer must repay the surety for any claim it pays.

This is not your state license bond

Many states require collection agencies to carry a license bond payable to the state. That bond protects the state and consumers. This one is a separate contract bond that protects Jefferson Capital. Holding one does not satisfy the other.

Amount and form

Jefferson Capital does not publish the bond amount or a bond form online. The figure comes from your servicing agreement or from Jefferson Capital's vendor management team. Get it in writing, and check whether Jefferson Capital wants its own form, before the bond is issued.

Premium

The surety prices the bond from the amount required and the owner's credit, financial statements and collection history. You see the actual premium when you apply.

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

• Jefferson Capital Systems, LLC named as obligee.
• A signed collection and servicing agreement with Jefferson Capital.
• Any state collection agency licenses and license bonds your operation needs, held separately.
• Owner credit review and, for larger amounts, business financial statements.
• Notice to Jefferson Capital if the bond is cancelled or replaced.

All States Collection and Servicing Agreement Bond FAQs:

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