Oregon Surety Bonds

Surety Bond Requirements in OR

The State of Oregon requires different types of surety bonds as part of the business licensing process for various professionals, contract workers, and companies. For example, you must be bonded in Oregon if you are an appraisal management company (AMC), collection agent, contractor, escrow agent, mortgage broker, or motor vehicle dealer.

In Oregon, surety bonds are mandated by state agencies, which set the necessary bond coverage amounts (also called the “penal sum"). Depending on your business type, the bond coverage amount could be fixed or it might vary based on your volume of business. Oregon's escrow agent bond, for example, can range from a penal sum of $50,000 to $500,000.

Other bonds vary in size based on whether your business is located in state or out of state, such as the collection agency bond. In-state collection agents must maintain surety coverage in the amount of $10,000, while out-of-state debt collectors must post a $15,000 surety bond. Be sure to familiarize yourself with the state agency that sets licensing rules for your business.

Our experts are always happy to help you navigate Oregon bonding regulations. NNA Surety Bonds has been providing affordable policies to companies and individuals across the United States since 1957.

We offer the following surety bonds in the state of Oregon:

Appraisal Management Company (AMC) Bond

You’ll need this $25,000 bond if you wish to be licensed as an appraisal management company in the state of Oregon. It provides a way for your clients to be compensated if they are harmed by unprofessional or unlawful conduct by your AMC business. The cost for this surety bond is $250, renewed annually.

Collection Agency Surety Bond

Oregon requires collection agencies to be properly bonded before they can receive their business license. The bond coverage amount is set by the Division of Financial Regulation at $10,000 if your agency has a location or trust account within Oregon.

The annual premium for in-state collection agent bonds is $100. If your agency does not have a location in Oregon, the required bond amount is $15,000, with a premium of $150.

Contractor License Surety Bond

A surety bond is required of licensed contractors in Oregon. Coverage amounts range from $10,000 for residential limited contractors to $20,000 for residential general contractors.

These construction bonds are state-mandated contracts designed to protect the contractor’s customers from financial loss by providing:

  • An incentive for the contractor to follow regulations in the contractor license.
  • Recourse by allowing claims against the bond.

The cost of an Oregon contractor license bond can start as low as $100, depending on the endorsement you plan to get. NNA Surety has secured the option to offer the following set rates without the necessity of a credit check.

Escrow Agency Surety Bond

As an Oregon escrow agent, you must post a bond that ranges in size from $50,000 to $500,000, as determined by your annual receipts of client trust funds. This bond protects your clients in case of fraud or dishonesty in your handling of their funds. Your one-year premium for an OR escrow agency bond can range from $500 to $5,000, depending on the coverage amount required and the underwriter’s evaluation of your credit.

Mortgage Broker Surety Bond

As a loan originator, you must post a surety bond to protect your clients in case you violate Oregon’s state regulations. The bond coverage amount will vary considerably depending on the size of your brokerage, from $50,000 to $200,000. And annual premiums for applicants with good credit range from $375 to $1,500.

Motor Vehicle Dealer Bond

This $50,000 Oregon auto dealer surety bond protects customers by providing a means of financial compensation should your dealership fail to comply with auto industry regulations and ethical business practices. This bond applies to both new and used vehicle dealers, and can cost as little as $400 to $500 annually for applicants who have a good personal credit rating.

Oregon Surety Bond Costs
Bond Name Coverage Amount Cost
(Annual Premium)
Regulatory Authority
Appraisal Management Company Bond $25,000 $250 State of Oregon Appraiser Certification and Licensure Board
Collection Agency Bond $10,000-$15,000 $100-$150 State of Oregon Division of Financial Regulation
Contractor License Bond $20,000-$75,000 $200-$2,625 State of Oregon Construction Contractors Board
Escrow Agent Bond $50,000-$500,000 $500-$5,000 State of Oregon Real Estate Agency
Mortgage Broker Bond $50,000-$200,000 $375-$1,500 State of Oregon Real Estate Agency
Motor Vehicle Dealer Bond $50,000 $400-$500 Oregon Driver & Motor Vehicle Services

* Cost can vary depending on the bond amount required and your credit rating

Our knowledge of Oregon bond requirements enables us to provide accurate quotes quickly. For guidance on selecting or renewing the right surety bond for your business, talk to one of our experts today.

For faster service, call us at 855-215-2160
Monday to Friday, 6 a.m. to 5 p.m. (PT)

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