What is a New York Business Service Bond?
Secure your business through this surety bond!
A Business service bond is one of the most important and cost-efficient protection tools for your business!
A business service bond will protect your business as well as your clients. When your employees commit misconduct, both you and your client will be financially compensated through the surety bond!
Other benefits of a business service bond include:
- Improving your business’ competitive advantage
- Serves as a marketing tool. By having a Business Service Bond, you are guaranteeing that your employees are dependable and will provide great service.
- Diminishes the risk of business failure especially for resource-strapped startups
- Lowers the perceived uncertainty that the customers might have. Having a stranger in your home is quite unnerving. Many what-ifs may occur inside a customer’s mind. You can calm those by letting your potential customers know that they are eligible for monetary claims if an unfortunate incident happens.
What is the Business Service Bond amount?
This will depend on the number of your employees and how much you want the bond amount to be. The starting bond amount is $2,500, and the maximum bond amount is $100,000.
Your bond premium will depend on your credit score. Those who have an excellent credit score will be able to pay as little as 1% of the bond amount!
How can I get a Business Service Bond?
We’ve made it easier for you! Just follow the steps below:
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!
Who should get this surety bond?
Any type of business services, especially those that provide home service such as the following:
- Handyman services
- Home-Improvement services
- Landscaping & Lawn management services
- Maintenance services
- Cleaning services
- Plant maintenance services
- Plumbing services
- Swimming pool services
- Property inspection services
Need further assistance? Talk to our surety bond experts at 800-333-7800!