New York Surety Bonds

Why Surety Bonds are Required in New York?

Surety bonds are agreements that guarantee compliance with certain state laws or simply the honest and faithful conducting of business. New York state requires applicants for most business licenses to obtain a bond before they can get licensed. Similarly, contractors that want to perform work on projects in the state over a certain dollar amount may also need to get bonded first.

See our ‘What is a surety bond’ guide for more information! It is very useful for first-time applicants who want to know more about how bonds work, and why they are required.

Types of surety bonds in New York

There are three main types of surety bonds that are required in the state:

• If you plan to start a business or get licensed in New York, you will most likely need to get a license or permit surety bond before you can offer services to customers. License bonds protect the interests of New York state, and a business’s customers. They offer compensation in cases of fraud, misconduct, and other cases of non-compliance with regulations.

• If you are a licensed and bonded New York contractor and you want to bid for a construction project or you are about to begin work on a job, you will be required to obtain a type of contract bond, also known as construction bond. It guarantees you will perform your job in accordance with the contract, as well as in accordance with New York state regulations.

• Individuals are required to obtain a court bond by a New York court when, for example, appealing a court case or being appointed as someone’s fiduciary. In these and other similar instances, individuals must obtain either a supersedeas or a fiduciary bond, that they will need to present to the court.

Popular Surety Bonds in New York

If you know what kind of bond you are looking for, look it up in the table below and click on the application link to request a free quote!

For additional questions you may have about surety bonds in New York, just call us at 866.450.3412.

What’s the Cost of Getting Bonded in New York?

To get your bond, you must pay a surety bond premium, which is a fraction of the full bond amount. It is also known as the bond’s penal sum or the maximum amount of compensation that the surety may extend to an obligee.

When sureties assess your application, they primarily look at your personal credit score, which is an indicator of how safe or risky bond applicant you are. Other factors that surety bond companies also consider are personal and business financial statements, assets profile, experience and work record.

You can find out more about the cost of your bond by visiting our surety bond cost page.

Can I get bonded if I have a low credit score?

Yes. If you're credit score is bad you can still get bonded, even though such bonds are issued at higher rates. Applicants with low credit score are usually offered a rate between 5%-15% of the bond amount. Leanr more about how you can get bonded with our bad credit program.

Try our surety bond cost calculator below to get an estimate of the cost of your bond.

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Surety Bond Cost Calculator

Bond Type Select Your Required Bond Auto Dealer BondCollection Agency BondContractor License BondDebt Collector BondFreight Broker BondMedicare/Medicaid BondMortgage Broker BondRetail & Professional Services BondSchool BondSmall Loan Company BondSports Permit BondTax & Utility BondTelemarketing BondTravel Agent BondAll Other License Bonds

State Requiring the Bond Select Your StateAlabamaAlaskaArizonaArkansasCaliforniaColoradoConnecticutDelawareFloridaGeorgiaHawaiiIdahoIllinoisIndianaIowaKansasKentuckyLouisianaMaineMarylandMassachusettsMichiganMinnesotaMississippiMissouriMontanaNebraskaNevadaNew HampshireNew JerseyNew MexicoNew YorkNorth CarolinaNorth DakotaOhioOklahomaOregonPennsylvaniaRhode IslandSouth CarolinaSouth DakotaTennesseeTexasUtahVermontVirginiaWashingtonWashington D.C.West VirginiaWisconsinWyoming

Surety Bond Amount ($)

Select Your Credit Score Please select Above 700 650 - 699 600 - 649 550 - 599 549 and under

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How to Apply for a Surety Bond in New York?

To apply for a license or contract bond, you need to complete our simple 2-min online bond application form. We’ll contact you with a free quote on your bond shortly, along with more information about completing the process.

Call our surety bond experts at 866.450.3412 to get more information about your bond application, or about the bonding process!

About us:

Bryant Surety Bonds

Bryant Surety Bonds, Inc. is a surety bond agency based in Pennsylvania. Licensed in all 50 states and with access to over 20 T-listed, A-Rated bonding companies, we have the contacts, expertise, and top service to provide you with a hassle-free experience, all while offering competitive rates for your surety bond.