New York Surety Bond Requirements

New York state frequently requires applicants for business licenses to obtain a surety 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.

What do surety bonds do?

Surety bonds are agreements that guarantee that the bonded party (the bond principal) will comply with various conditions. For example, bonds required for licenses guarantee compliance with certain state laws or simply the honest and faithful conducting of business.

If a bond agreement is violated by the principal, resulting in loss or damages to any person(s) or to the state (the bond obligees), a claim can be made against the bond to secure financial compensation.

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.

For more information about New York surety bonds, take a look at the sections below. They contain information about the types of surety bonds required in New York, how much it costs to get bonded, and how you can apply.

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!

Find the Bond You Need

The table below contains a list of only the most popular surety bonds. If you can't find yours, fill out our online application and select "Not in the list".

Market Agencies/Dealers Bond Dept of Agriculture and markets Farm Products Dealer Bond Apply Now
Contractor License (No P&P Language) Bond County of Putnam County of Putnam Electrical Contractor License Bon Apply Now
Contractor License Performance & Payment (Local) Bond City of Niagara Falls Performance Bond Apply Now
Contractor License Performance & Payment (Local) Bond City of New York More Than ONe Location-Building Operations Permits Apply Now
Excess Weight, Other Highway & Street Permit Bond City of New York/Commissioner of Transportation Two to Fifty Locations Liability Permit Bond Apply Now
Excess Weight, Other Highway & Street Permit Bond Department of Transportation, State of New York Oversize and or Overweight Equipment Hauling Permi Apply Now
Collection Agency Bond Office of Licenses Collection Agency Bond(City of Buffalo, NY) Apply Now
Collection Agency Bond NYC Department of Consumer Affairs Collection Agency Bond (New York City) Apply Now
Professional Fund Raisers Bond New York State Department of Law Annual Bond (for Professional Fund Raisers) Apply Now
Insurance Adjusters Bond NY Insurance Department - Licensing Bureau Adjusters Apply Now
Mortgage Broker (1st & 2nd Mortgages) Bond Superintendent of Banks Originating Entity Apply Now
Mortgage Broker (1st & 2nd Mortgages) Bond Superintendent of Banks Registered Mortgage Brokers Apply Now
Mortgage Broker (1st & 2nd Mortgages) Bond Superintendent of Banks FHA Mortgage Loan Correspondent Apply Now
Mortgage Broker (1st & 2nd Mortgages) Bond New York Banking Department Mortgage Loan Originator (Individual) Apply Now
Mortgage Lender/Banker (1st & 2nd Mort.) Bond NY Superintendent of Banks Licensed Mortgage Banker Bond Apply Now
Mortgage Lender/Banker (1st & 2nd Mort.) Bond Superintendent of Banks of the State of New York REGISTERED MORTGAGE LOAN SERVICERS Apply Now
Auto & Mobile Home Dealers (New & Used) Bond Department of Motor Vehicles Motor Vehicle Dealer Apply Now
Auto & Mobile Home Dealers (New & Used) Bond Department of State Automobile Brokers Bond Apply Now
Auto & Mobile Home Dealers (New & Used) Bond Obligee info for this request was wrong Auto & Mobile Home Dealers (New & Used) Bond Apply Now
Auto & Mobile Home Dealers (Used Only, No New) Bond Department of Motor Vehicles Motor Vehicle Dealer Apply Now
Motor Vehicle (Non-Dealer, Not Listed) Bond New York State Deaprtment of State Executive Law Article 21-B Apply Now
Motor Vehicle (Non-Dealer, Not Listed) Bond Town of Hempstead Second Hand Vehicle Sales Apply Now
Sport Permits Bond State Athletic Commission Sport Permits Bond Apply Now
Sport Permits Bond State Athletic Commission Boxing, Sparring, and Wrestling Match Permit Bond Apply Now
Health Spas/Health Clubs Bond Division of Licensing Services Health Club Apply Now
Detectives Bond Secretary of State Private Investigator Bond Apply Now
Detectives Bond Secretary of State Watch, Guard or Patrol Aency Bond Apply Now
Employment Agencies Bond The People of the State of New York Employment Agency Bond Apply Now
Nursing Homes Bond NYS DEPARTMENT OF HEALTH State of New York Nursing Homes Apply Now
Professional Licenses (All Other) Bond Department of Consumer Affairs Immigration Assistance Service Providers Apply Now
Professional Licenses (All Other) Bond NY Dept of Transportation Oversize Hauling Permit Apply Now
Professional Licenses (All Other) Bond Department of Consumer Affairs Process Server Individual Apply Now
Professional Licenses (All Other) Bond Secretary of State Ticker Reseller Apply Now
Professional Licenses (All Other) Bond City of New York Taxi & Limousine Commission For Hire Vehicle Apply Now
Professional Licenses (All Other) Bond Office of the Medicaid Inspector General Ambulette Bond Apply Now
Professional Licenses (All Other) Bond Department of Consumer Affairs Second Hand Dealer Apply Now
Professional Licenses (All Other) Bond City of Rochelle, NY (City of New Rochelle) Door to Door Vendor Bond Apply Now
Professional Licenses (All Other) Bond Town of Clarkstown Solicitor Bond (Clarkstown, NY) Apply Now
Professional Licenses (All Other) Bond Secretary of State Appearance Enhancement Business Bond Apply Now
Professional Licenses (All Other) Bond Department of Consumer Affairs Process Serving Agency Bond Apply Now
Professional Licenses (All Other) Bond Department of Consumer Affairs General Contractor Bond Apply Now
Professional Licenses (All Other) Bond Westchester County Taxi & Limo Commission Base Station Bond (Westchester County Taxi & Limo Apply Now
Professional Licenses (All Other) Bond Westchester County Taxi Base Station Bond (County of West Chester) Apply Now
Alcohol (Manufacturers, Warehouses, Wholesalers) Bond State Liquor Authority New York Alcoholic Beverage Control Apply Now
Alcohol (Retailers) Bond Alcohol (Retailers) Bond Apply Now
Fuel Tax (All Others, Sellers & Users) Bond NY State Dept of Taxation and Finance Bond of Distributor of Automotive Fuel Apply Now
Other Public Warehouses (All) Bond City Of New York, Department Of Consumer Affairs Storage Warehouse Bond (New York City) Apply Now
Games of Chance Bond NYS Department of State Games of Chance Bond Apply Now
Turnpike/Bridge Toll Bond New York State Thruway Authority Thruway Authority Apply Now
Utility Deposit Bond NIAGARA MOHAWK POWER CORP dba NATIONAL GRID Utility Deposit Bond Apply Now
Utility Deposit Bond Long Island Power Authority Long Island Lighting Company Utility Deposit Bond Apply Now
Utility Deposit Bond Public Service Enterprise Group Long Island (PSEGL (PSEGLI) Utility Payment Bond Apply Now
Wages & Fringe Benefits Bond Steamfitters Local 638 Steamfitters' Industry Funds Construction Trades Apply Now
Wages & Fringe Benefits Bond IBEW Local Union 363 Welfare, Pension, Annuity Payment Bond Apply Now
Wages & Fringe Benefits Bond NY LOCAL 1 IUEC IUEC Wage and Fringe Benefit Payment Bond Apply Now
Wages & Fringe Benefits Bond TRUSTEE OF THE DISTRICT COUNCIL NO. 9 OF NEW YORK Local Union #9 Wage & Welfare Bond Apply Now
Fringe Benefits Only Bond Trustess of the District Council No. 9 of New York International Union of Painters Apply Now
Fringe Benefits Only Bond Sheet Metal Intl #28 Fringe Benefits Only Bond Apply Now
Fringe Benefits Only Bond Sheet Metal Workers International/Local Union #28 Sheet Metal Workers International/Local Union #28 Apply Now
Fringe Benefits Only Bond The Steamfitters' Industry Fund Steamfitters' Industry Funds Construction Trades B Apply Now
Fringe Benefits Only Bond Plumbers Local No. 200 Fringe Benefits Bond (Local #200) Apply Now
Money Transmitter Bond Department of Financial Services Money Transmitter Bond Apply Now
Telemarketing/Phone Solicitor Bond Department of State, Division of Licensing Telemarketing Bond Apply Now

Types of Surety Bonds in New York

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

  • License and permit bonds
  • Contract bonds
  • Court bonds

License & Permit Bonds

The state of New York requires a range of businesses to get licensed, before they can offer their services to customers. During the licensing process, applicants need to obtain a license bond and present it when submitting their application.

Which businesses need to get bonded and which do not is a matter of local and state regulations. The amounts of the bonds are often determined on an individual basis by states, though there are some exceptions for certain bonds that apply across the whole country.

These 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 state regulations. They also guarantee that a licensed and bonded business will adhere to all laws and regulations.

Certain bonds, such as the auto dealer bond, the mortgage broker bond and the freight broker bond are most commonly issued in the state.

Contract Bonds

Typically, contract bonds are necessary to New York contractors who are already licensed and bonded, and are bidding to be awarded a contract for a construction project or are about to begin work on a project.

They guarantee that contractors will perform in accordance with a project’s contract, as well as in accordance with New York state regulations.

Court Bonds

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.

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?

You must pay a surety bond premium to get your surety bond. This premium is a fraction of the full amount of your bond, also known as the bond’s penal sum. The penal sum is the extent of its coverage: the maximum amount of compensation that the surety may extend to an obligee.

What determines the cost of my bond?

When sureties assess applicants in order to offer them a rate, they primarily look at their personal credit score, which is a strong indicator of how safe or risky it is to bond an applicant. They also consider:

  • Personal and business financial statements
  • An applicant’s asset profile
  • An applicant’s experience and work record

Applicants with high credit scores usually receive a premium at standard market rates, which range between 1%-4% of the full amount of their bond.

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

Those with bad credit scores can also get bonded, even though their score makes them riskier to bond for sureties. Such applicants are usually offered a rate between 5%-15%.

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

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

How Can I Get Bonded in New York?

There are two different application forms depending on the type of bond you need. Follow the links below to apply for your bond.

License bond application

Complete our online bond form to get started with your license bond application. We’ll contact you with a free quote on your bond shortly, along with more information about completing the process.

Start your surety bond application today! Why us?
  • Quick turnaround - just 1-2 business days
  • Tailor-made advice on building a strong application
  • Exclusive bad credit programs

Contract Bond Application

To apply for a contract bond, download and complete one of the two contract bond online forms. When you have completed your form, send it to us. We will then contact you with further information on the bonding process.

Call our surety bond experts at (866)-450-3412 to get more information about your bond application, or about the bonding process!

Further Reading


About the author:
Todd Bryant
Todd Bryant is a graduate of Germantown Academy and the University of Pittsburgh College of Business Administration Honors College. He has been President of Bryant Surety Bonds, Inc., an A+ rated Business with the Better Business Bureau, since 2007. Licensed as a producer with the Department of Insurance, he has been published in the National Association of Surety Bond Producers newsletter and on numerous authoritative publications such as The Washington Post, Entrepreneur.com, Azcentral.com and many more.