New York Nail Salon Wage Payment Surety Bond
**AS OF July 1 2015 ALL NAIL SALON OWNERS WILL BE REQUIRED TO POST A WAGE SURETY BOND BY OCTOBER 6TH,2015 TO GUARANTEE THEIR EMPLOYEES WAGES.**
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:
If you are still unsure of the bond amount you need, there is an easy to use Nail Salon Wage Bond Calculator on the NY Division of Licensing Services website.
The New York Department of State has compiled a list of Nail Salon Bond Coverage FAQs to answer any questions a nail salon owner might have regarding this new bond requirement. Click the following link to read more about the Notice of Adoption of Emergency Regulations for Appearance Enhancement Establishments from the New York State Department of State New York has a specific required Wage Payment Surety Bond form they require the surety companies to use.
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
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!
World Wide Bonding Agency guarantees to find the best possible price for the surety bond you need given your particular qualifications! Insurance Agent Commissions are 10% off of each bond premium. Additional underwriting information may be requested. World Wide Bonding Agency guarantees to simplify the process and keep you on the path of least resistance.