What is a New Jersey Health Care Service Firm Bond?
Provide the right kind of health care service to patients through this surety bond!
Starting a health care service firm? You need this surety bond – whether your business is located within New Jersey or outside the state!
It is an initial and renewal of the registration requirement. The surety bond’s purpose is to guarantee the compliance of the health care service firm to the state laws and rules pertaining to employing individuals who will provide health care services to patients directly in their homes or at caregiving facilities.
It will also be conditioned that the health care service firm will compensate any person who will suffer any damages from its wrongdoings. This includes, but are not limited to, the following:
- Start a business without a registration
- Prevent its employees to be employed by another
- Knowingly send its employees to health care facilities that are not part of the National Labor Relations Board
- Obtain a liquidated damage charge
This requirement is in pursuance of 13:45B-13.3 of the New Jersey Statutes.
What is the Health Care Service Firm Bond amount?
The bond amount is $10,000.
Got an excellent credit score? You will only pay a small fraction of the amount, or as low as $100!
How can I get a Health Care Service Firm Bond?
SEND US A BOND APPLICATION – We begin the bonding process with an application. You may send your application for this bond HERE!
UNDERWRITING – Once we have received your application, an underwriter will ask you to submit the following important requirements:
- Proof of your financial capability
- Your business’ history
- Your credit score
To avoid any delay, make sure that your requirements are complete before submitting them.
ISSUANCE – As soon as the underwriter has completed the necessary in-depth check, we will immediately issue the surety bond and send it to you!
What are the surety bond conditions?
- The surety bond agent or company should be authorized to conduct business in the State of New Jersey
- The surety bond should be made payable to the State of New Jersey
- The registered health care service firm is obligated to comply with the provisions of Title 13 of the New Jersey Revised Statutes, as well as the rules and regulations of the New Jersey Division of Consumer Affairs
- If the registered health care service firm commits a valid violation, the aggrieved party will be eligible to file a claim against the surety bond
- The surety bond will run concurrently with the registration period. The registration should be renewed before July 1 of each year.
Ready to apply? START HERE!