City of New York Car Wash Surety Bond
Car wash owners in the city need to comply with the requirements for licensing and conducting business set out in the Car Wash Accountability Act.
If the bonded car wash owner violates the law, a claim can be made against his bond, and the surety may pay compensation to claimants up to the full amount of the bond. In return, the car wash owner must repay the surety for any compensation it extends.
Car wash owners can influence the rate at which they get bonded. The most important cost factor is personal credit score: the higher the score, the lower the rate. By improving their credit, owners can improve their bond rate.
Sureties also take into account factors such as financial statements, personal assets and liquidity, so even if owners don’t have perfect scores, there may be ways for them to lower their bond rates.
Bond Amount – $150,000
Cost of Bond – Starts at $1,500
Click on the START MY APPLICATION button to complete our simple, online bonding application. Completing our application allows the underwriters at our office to provide you with a specific quote for the exact bond you need. After you submit our online application, we will respond and get the process going immediately!
HAVE QUESTIONS?
HAVE QUESTIONS?We know the surety bond requirements for New York State and are happy to answer any questions you may have. Feel free to call us at 888.681.7685, email us directly at [email protected], or fill out the form below and we’ll get right back to you! We look forward to the opportunity to earn your business!