How to Join EverChain’s Certified Agency Network

Categories: Collection Agencies, Compliance|
Joining EverChain's Certified Agency Network

Guide to Joining EverChain’s Elite Collection Agency Network

EverChain creates profitable partnerships specifically for the compliant and efficient collection of debt. To join EverChain’s Certified Agency Network, collection agencies must meet stringent requirements to ensure they operate legally and ethically. Here are the key requirements and procedures as outlined in the EverChain Agency Certification via our Universal Due Diligence (UDD) platform:

Sponsorship and Credential Requirements:

  • Agencies must be sponsored by an active EverChain-certified buyer to enter the network.
  • They need to be legally credentialed to conduct business in at least 15 jurisdictions.

Background Checks:

  • A background check is mandatory for all principals of the agency to ensure they have no financial crimes.
  • A business background check must also be completed to ensure there are no negative exposures.

Documentation and Compliance:

  • Agencies must provide valid and up-to-date licenses, bonds and proof of active status with the Secretary of State in the jurisdictions they are transacting business in.
  • Standard Operating Procedures (SOPs) must have a review history table showing a review date within the last 12 months to ensure they are current and relevant.

Operational Requirements:

  • Agencies must have a system in place for managing complaints, including having at least two contacts responsible for complaint resolution.
  • They must disclose their regulatory, legal, and complaint history for the past year, including any regulatory enforcement or litigation faced.

Security and Data Protection:

  • Agencies are required to conduct regular security assessments and must have current Errors & Omissions Insurance with a minimum coverage of $1 million.
  • They must adhere to strict data protection protocols, including the use of secure file transfer protocols and encryption standards to safeguard consumer data.

Submission Process:

  • All materials, including supporting documentation organized as exhibits, must be submitted securely via UDD.

Annual On-site Recertification Agreement:

  • Agencies certified in the EverChain network are subject to an annual on-site recertification conducted by a member of our Compliance Team.

Certification Timeline:

  • Once the agency’s sponsor initiates the certification, a member of our compliance team will reach out to the agency to obtain the necessary information needed to create a profile for the designated individual. The designee will receive an invite to UDD to begin the certification process. The agency has thirty (30) days to complete the certification process.

This rigorous certification process ensures that only the most reliable and compliant agencies can participate in EverChain’s network, thereby maintaining high standards of operation and consumer protection.

Interested in joining a network that values professionalism and compliance? Reach out to an EverChain Certified Network member for sponsorship!

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