A New York City home improvement contractor bond is required by New York City Consumer Affairs from all licensees that choose not to participate in the DCA "Trust Fund". At present, the surety bond appears to be a simple compliance obligation (license and permit bond) however a deeper look at the underlying city code reveals all of the duties imposed on the licensee for which the bond serves as a guarantee.
Per Consumer Affairs, the New York City home improvement contractor bond but name the City of New York as the Certificate Holder (obligee). The surety bond must include the full corporate name, trade name (DBA) name and the permanent address of the license to exactly match all application documents. The contractor must also submit a receipt from the surety bond agent that the bond premium has been paid in full and will not expire before the end of the licensing period.
Advisory: Contractors performing services statewide, a Putnam County home improvement contractor must also file a surety bond. You may download an application here.
New York City surety bond leader, Surety One, Inc. is a specialist in providing for the bonding needs of commercial contracting industries. We offer this class of surety bond to all applicants in every state where home improvement contractors must be bonded. Call (800) 373-2804, email Underwriting@SuretyOne.com or click here for a live chat about your New York City home improvement contractors bond application or information about any surety need.
Surety bond application review and quoting are free of charge. There is no obligation to purchase.