New York Nail Salon Wage Payment Surety Bond
New York Nail Salon Wage Bonds or NY Wage Bonds are required by the New York Department of State Division of Licensing Services.
Proof of your liability coverage must be retained in your nail salon. Workers or employees must be able to access this proof at all times while the business is open.
How do I know what wage bond amount I need?
The required bond amount is determined by the equivalent of full time employees that provide nail specialty services. For example:
# of equivalent FULL time employees
2 – 5 requires a $25,000 bond
6-10 requires a $40,000 bond
11-25 requires a $75,000 bond
26 or more requires a $125,000 bond
Additional information about this NY wage bond requirement is as follows:
Obligee – New York State Department of State Division of Licensing Services. The bond will be in favor of the people of the State of New York
Bond Amount – $25,000 – $125,000 depending on the number of full time individuals
Cost of Bond – $25,000 bond starts at $250, $40,000 bond starts at $400, $750,000 bond starts at $750, $125,000 bond starts at $1250
Renewal Document – None
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!