Oregon Surety Bonds

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.