New York Nail Salon Wage Payment Surety Bond

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 TO GUARANTEE THEIR EMPLOYEES WAGES.**

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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 employ the EQUIVALENT to 2 to 5 full time individuals, you will need to post a $25,000 bond. If you employ the EQUIVALENT of 6-10 full time individuals, you will need to post a $40,000 bond.

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.

We have various sureties willing to write wage bonds for applicants with less than perfect credit, including a special program with very competitive prices for those with just a few credit blemishes.

We find the best possible price for your wage surety bond given your particular qualifications.

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
Bond Premium - starting at $250
Renewal Document - None.

Click on the No Obligation Quote button to complete our simple, one-page online bonding application. Completing the following application allows the underwriters at BondAbility to provide you with a specific quote for the exact bond you need. After you submit our online application, we will respond with your personalized quote within the hour!

Contact Info

First Name *

Last Name *

Email *

Phone *

Fax

I am an ...

Insurance Agent

Applicant

Attorney

Other

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Applicant Info

Applicant Name (Exactly as to appear on bond or license) * _{Most Obligee's require that the name on the Bond EXACTLY match your license or license application.}

Type of Entity

Sole Ownership

Corporation

Partnership

LLC or LLP

Business Address *

City *

State * Select your State Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware Dist of Columbia Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Vermont Virginia Washington West Virginia Wisconsin Wyoming

Zip Code *

Do you have or need other bonds

Effective Date *

Bond Amount *

Please indicate any ownership changes in the last 12 months

Previous surety (if any)

Reason for changing surety

Has the business or any of the owners been involved in:

Had any lawsuits, liens or judgements against them?

Yes

No

Ever failed in business or declared bankruptcy?

Yes

No

Ever been convicted of a crime?

Yes

No

Ever had their business license suspended, revoked or denied?

Yes

No

Ever been party to a surety bond claim?

Yes

No

Ever had a bond declined or cancelled?

Yes

No

If yes to any, please explain

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Personal Info

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Additional Documents

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By submitting this Application, the owners listed above hereby authorize BondAbility, (including any of its representatives affiliates, agents or designees) to conduct any and all investigative inquiries including but not limited to obtaining consumer credit reports. Any person who knowingly and with intent to defraud any insurance company or other person files an application for insurance or statement of claim containing any materially false, incomplete, or misleading information, or conceals information concerning any material fact whereto, commits a fraudulent insurance act, which is a crime punishable by incarceration, and shall also be subject to civil penalties

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