New York License Issuing Officer Bond
What is a New York License Issuing Officer Bond?
Those who have been appointed by the New York Department of Environmental Conservation as license issuing officers are required to be bonded. Compliance of license issuing officers to the rules and regulations of the Department of Environmental Conservation as well as to the relevant laws of the state is the reason for this requirement.
This surety bond will also protect any person from any unlawful acts that the said licensee might commit. If such happens, the client who has suffered damages will be financially compensated through the surety bond.
Resident and nonresident licenses/permits that a license issuing officer can issue are the following:
- Special licenses and permits
To be eligible for the license issuing officer position, the person must be:
- Over 18 years old
- Meets the residency requirements contained in Environmental Conservation Law
- Good character and reputation (must submit 3 business references to the New York Department of Environmental Conservation)
- Has not been convicted of or pleaded guilty to a misdemeanor under the Environmental Conservation Law within the past 3 years
- Has not been convicted of a crime under any other law
How much does a New York License Issuing Officer Bond cost?
The bond premium will depend on the license issuing officer’s credit score and the bond amount. The bond amount will be determined by the New York Department of Environmental Conservation.
If you have an excellent credit score, you will be eligible to pay as low as 1.5% of the bond amount.
Know what you need to pay right now! GET YOUR FREE QUOTE HERE today!
How can I get a New York License Issuing Officer Bond?
You may easily do so HERE!
The next step would be the prequalification or underwriting process. An underwriter will then evaluate the following:
- Your financial strength
- Your job/business performance history
- Your credit score
Once the prequalification process is fulfilled, you will be asked to sign an indemnity agreement. Once signed, we will execute the bond and send it to you!
How does a New York License Issuing Officer Bond work?
A surety bond is a three-party agreement.
Principal – license issuing officer
Obligee – People of the State of New York
Surety – Surety bond provider
The Surety will partner with the Principal to assure the performance of the latter to the New York Department of Environmental Conservation. The Principal is primarily responsible for the fulfillment of the obligations required. If the Principal violates any of the bonded obligations, the person who has suffered damages can file a claim against the bond.
The Surety will first conduct a thorough investigation of the claim by checking the violations committed against the relevant laws and rules. If the claim is valid, the Surety will pay the Obligee. Once the Surety has settled the claim, the Principal will reimburse the Surety for the payments made.
You may apply for this bond HERE!