New York E-Z Pass Tags or Special Hauling Permits Bond
What is an E-Z Pass Tags or Special Hauling Permits Bond?
This surety bond is required of any person who has entered into a Credit Agreement with the New York State Thruway Authority. This is required before a credit is provided to the person and prior to the issuance of E-Z Pass Tags or Special Hauling Permits.
This bond will ensure that the person will honor the terms and conditions of the said Credit Agreement. Some of the conditions are as follows:
- Pay the invoices for toll trips on time and in full
- Pay the monthly E-Z Pass Tag fees
- Pay the special hauling permit fees
- Pay any other fees associated with travel on the Thruway
How much does an E-Z Pass Tags or Special Hauling Permits Bond cost?
The bond premium will vary per applicant. This will depend on the applicant’s credit score and the bond amount set by the New York State Thruway Authority.
Those who have excellent credit scores will be eligible to pay as little as 1.5% of the bond amount.
The bond amount can increase or decrease depending on the New York State Thruway Authority’s monthly review of the customer's account. If you’ve been given notification to increase or decrease your bond amount, you must submit a modified bond within 20 days upon the receipt of notification. Failure to do so will result in suspension of your account.
If you have determined your bond amount, you may check you bond premium by getting your FREE QUOTE HERE from us!
How can I get an E-Z Pass Tags or Special Hauling Permits Bond?
We’ve made it easier for you! Just follow the simple steps below!
STEP 1: Apply for this bond
If you’re ready to apply now, you may do so HERE!
STEP 2: Prequalification
We will ask you a couple of important information needed for the bond. This will include your financial history, business performance history, and your credit score. An underwriter will carefully evaluate all those.
STEP 3: Bond issuance
You’ll be asked to sign an indemnity agreement prior to the issuance of the bond. Once signed, we will immediately issue the bond and send it to you.
How does an E-Z Pass Tags or Special Hauling Permits Bond work?
This bond will provide a path of recourse for the obligee (New York State Thruway Authority) in case the Principal (person asked to obtain this bond) violates the conditions of the Credit Agreement. The third party is the Surety. The Surety will financially support the Principal. In doing so, the immediate financial responsibility will be shouldered by the surety. When a bond claim is made by the obligee, it is the duty of the surety to settle the claim once its validity has been determined.
Need to get your surety bond ASAP? APPLY NOW!