New York Bail Enforcement Agent License Bond
What is a New York Bail Enforcement Agent License Bond?
Bail enforcement agents—commonly referred to as Bounty Hunters—are required to get this surety bond before a license is issued by the Department of State of the State of New York.
This bond will serve as a guarantee that the bail enforcement agent (BEA) will engage in the business of enforcing the terms and conditions of person’s bail in a lawful manner. This includes looking for and apprehending a person who failed to show up at any stage of the criminal proceeding.
Article 7 New York Consolidated Laws violations committed by the licensed bail enforcement agent will be covered by this surety bond as well. That includes wearing clothes or carrying a badge that states that the licensed bail enforcement agent is an agent of the state or federal government.
This requirement is in pursuance of Section 74 Article 7 of the New York Consolidated Laws.
Non-residents are required to file this bond to the Secretary of State along with a written consent to the jurisdiction of the courts of New York any case or cases that the BEA will handle within the state.
How much does a New York Bail Enforcement Agent License Bond cost?
The bond premium will be dependent on the BEA’s credit score.
Those who have excellent credit scores will pay as little as 1% of the bond amount. The bond amount is $500,000.
Check out what you need to pay by getting your FREE SURETY BOND QUOTE HERE!
How can I get a New York Bail Enforcement Agent License Bond?
APPLY FOR A BAIL ENFORCEMENT AGENT LICENSE BOND – We begin the process with an application. You may send your application for this bond HERE.
PREQUALIFICATION – 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
In order to avoid any delay, make sure that your requirements are complete prior to submitting them.
BOND ISSUANCE – As soon as our expert underwriter has checked the requirements, you’ll be asked to sign an indemnity agreement. After that, the bond will be issued and sent to you.
How does a New York Bail Enforcement Agent License Bond work?
This bond has 3 parties:
Principal – bail enforcement agent
Obligee – People of the State of New York
Surety – surety bond provider
The Principal must comply with the relevant laws of the State and to all the conditions of the license. The Surety’s role is to assure the New York Department of State that the Principal will fulfill all the obligations. If not, the Obligee can file a claim against the bond. If the violation committed by the Principal is valid, the claim will be paid by the surety. Once the Surety has paid the Obligee, the Principal must reimburse the Surety.
Secure your license! APPLY HERE!