New York Manufacturer of Manufactured Homes and Mechanic of Manufactured Homes Bond

What is a New York Manufacturer of Manufactured Homes and Mechanic of Manufactured Homes Bond?

Manufacturers who are approved by the United States Department of Housing and Urban Development to construct manufactured homes are required to submit this bond. Mechanics of manufactured homes are required to submit a separate bond.

This bond is a certification requirement. This surety bond must be filed with the New York State Department of State before a certification is issued.

The purpose of this bond is to ensure that the manufacturer and mechanic will fulfill their duties in accordance with the provisions of Article 21-B of the Executive Law and Part 1210 of Title 19 of the NYCRR. The New York State Department of State may recover an amount (up to the penal sum of the bond amount) from this bond if the manufacturer or mechanic breaches the bonded contract.

Manufacturer pertains to any person or business that manufactures and produces manufactured homes. A mechanic pertains to any person or business entity that performs services on or installs manufactured housing.

How much does a New York Manufacturer of Manufactured Homes and Mechanic of Manufactured Homes Bond cost?

The bond premium will be a small percentage of the bond amount.

Manufacturers and mechanics of manufactured homes who have excellent credit scores will be eligible to pay as little as 1.5% of the bond amount.

BOND AMOUNT

$50,000 – Manufacturer of Manufactured Homes

$5,000 – Mechanic of Manufactured Homes

You may check you bond premium by getting your FREE QUOTE HERE!

How can I get a New York Manufacturer of Manufactured Homes and Mechanic of Manufactured Homes Bond?

Just follow these simple steps:

  1. APPLY FOR THIS BOND HERE!
  2. The next step is the prequalification process. You will need to submit documents needed for this step. The following will be checked during the prequalification process:
    • Your financial capability
    • Your business or job performance history
    • Your credit score

    Our expert underwriter will carefully evaluate all three to attain the best credit decision possible.

  3. Your surety bond will be issued and sent to you after the indemnity agreement is signed.

How does a New York Manufacturer of Manufactured Homes and Mechanic of Manufactured Homes Bond work?

There are three parties to this bond:

Principal – Manufacturer of Manufactured Homes and Mechanic of Manufactured Homes

Obligee – State of New York

Surety – surety bond provider

The Principal and the Surety will partner in assuring the performance of the former to the New York State Department of State. The Principal is responsible for fulfilling the bonded obligations. If the Principal fails to do any of the bonded obligations required, the Obligee can file a bond claim.

The claim will first be verified by the Surety. Once the Surety has settled the claim, the Principal will reimburse the Surety for the payments made.

Fast processing and approval! APPLY HERE!

New York Manufacturer of Manufactured Homes and Mechanic of Manufactured Homes Bond

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