Specifications include, but are not limited to: Pre-collection and/or collection services provided by a qualified Respondent(s). These services include, but are not limited to, the following responsibilities: The successful Respondent shall be financially responsible for obtaining all permits, licenses, and bonding requirements to comply with all applicable city, county, state, or federal laws and regulations and assumes liability for all applicable taxes. The successful Respondent shall comply with all federal and state laws and regulations applicable to collection agencies, including the Fair Debt Collections Practices Act. Before any accounts are placed with the successful Respondent, the successful Respondent shall: Designate a single office and contact individual to be responsible for each account type to be referred by the University. Demonstrate that it maintains fidelity coverage to protect against employee theft and dishonesty in an amount not less than $500,000 combined single limit. Provide a copy of the most recent annual compliance audit on file with the Inspector General or the Department of Education.
