The BESTPASS, Inc. systems was created to smooth the flow of vehicles that are obligated to pay tolls by transponder tracking and automated billing. A BESTPASS surety bond is the preferred financial instrument for guaranteeing the post-pay account operators. Per BESTPASS, "Those operators that choose to be billed for services rather than prepaid deposit, will generally be required to file a surety bond. The amount is determined solely in the discretion of BESTPASS, in a form approved by and beneficiaries to the same. The surety bond penalty may be adjusted at any time to match the operator's three-month toll usage average plus any additional expenses incurred. For those operators that access the NY Thruway, New Jersey Turnpike and Pennsylvania Turnpikde the BESTPASS bond must be no less than three (3) months billings minus any volume discounted tolls and postpaid charges, or one thousand dollars ($1,000), whichever is greater.
The BESTPASS surety bond follows the operator's agreement, providing for the establishment of credit in the principal's name and the issue of charge plates, E-Z Pass tags and/or special hauling permits valid for travel in participating toll areas. The bonded principal must pay within twenty (20) days from the date of monthly invoice(s) for the use of incorporated toll roads, pay BESTPASS, Inc. the amount of said invoice(s). Questions and documents regarding the program may be directed to:
828 Washington Avenue
Albany, NY 12203
National surety bond leader, Surety One, Inc., offers this class of surety bond to all applicants regardless of credit condition and past operating history. Call (800) 373-2804, email Underwriting@SuretyOne.com, or click here for live chat for application materials and assistance with your BESTPASS surety bond application or for further information about this or other insurance coverages.
Do you also operate as a property/freight broker or NVOCC? Read more about our BMC-84 freight broker bond and OTI bond.
Surety bond application review and quoting are free of charge. There is no obligation to purchase.