New York City Laundry Bonds are required by the City of New York, Consumer Affairs Licensing Center. This bond is required of all independent contractors, private laundry operated in connection with a hotel, restaurant, or public institution, or a dry cleaner that accepts laundry for handling off premises.
The New York City Laundromat Bond protects the party requesting the bond, the Obligee, against any financial losses as a result of poor financial decisions, damages, unethical decisions, or a failure to follow state and local laws on the part of you, the Principal. These bonds hold you accountable for your business decisions.
By possessing a New York City Laundromat Bond, you are telling your Obligee that you can be trusted as a Principal and that you stand behind your business decisions.
*In compliance with the City of New York, the Department of Consumer Affairs will be named as the Certificate Holder on the bond.
Additional information about this corporate surety bond requirement is as follows:
Obligee – City of New York, Consumer Affairs Licensing Center
Bond Amount – Will vary with the number of people that you employ.
- for 0 to 25 employees = $500
- for 26 to 50 employees = $1,500
- for 51 to 75 employees = $2,500
- for 76 to 125 employees = $3,000
- for more than 126 employees = $5,000
No underwriting or credit check required. Just complete the information by clicking on our START MY APPLICATION Button. After you submit our online application, we will respond and get the process going immediately!