New York Solid Waste Transfer Station Bond

What is a New York Solid Waste Transfer Station Bond?

This is required of every person or business entity that has applied for an authorization to set up a solid waste transfer station from the New York State Department of Environmental Conservation.

The purpose of this bond is to ensure that the solid waste transfer station will perform the following obligations:

  • Restore the premises to its original condition and to the satisfaction of the New York State Department of Environmental Conservation
  • Remove all solid, hazardous waste, and debris
  • Remove recyclables or materials designated for re-use
  • Promptly pay the Department of Environmental Conservation’s (DEC) penalty based on the New York State of Environmental Conservation Law and DEC permit No. 2-6007-00090/1

How much does a New York Solid Waste Transfer Station Bond cost?

Bond premium ranges from 1.5% to 8% of the bond amount. This will depend on the bond applicant’s credit score.

The bond amount will be determined by the New York State Department of Environmental Conservation.

Once you have determined your bond amount, you can find out what your bond premium will be by claiming your FREE SURETY BOND QUOTE HERE!

How can I get a New York Solid Waste Transfer Station Bond?

APPLY FOR THIS BOND

If you are ready to do this now, you may APPLY HERE!

One of our expert surety bond agents will guide you through the entire process – from the time you have applied until the bond is issued to you.

 

UNDERWRITING

Next, you will be asked to submit a few important information that our underwriter requires in order to assess the following:

  • Your job or business history
  • Your credit score
  • Your financial strength

To avoid any delays, make sure that you have gathered the right information needed prior to submitting your application.

 

BOND ISSUANCE

After the indemnity agreement is signed, the bond will be issued and sent to you!

How does a New York Solid Waste Transfer Station Bond work?

Parties to this bond:

Principal  –    Solid Waste Transfer Station

Obligee  –  New York State Department of Environmental Conservation

Surety  –  Surety  bond  company

The Principal is the party who  is  required  to  perform  all  the  pre-determined  conditions  stated  in  the  bond.  The  Obligee  is  the  party  who  is  requiring  the  bond  and  who  will  benefit  from  a  bond  claim.  The  role  of  the  surety  is  to  assure  the  obligee  that  the  principal is capable  of  fulfilling  the  obligations. When  a  claim  is  made  against  the  bond,  the  surety  will  evaluate  the  claim  by  identifying  the  ordinance,  regulation,  and  other  laws  that  governs  it.

The surety is required to pay the obligee on behalf of the Principal if the claim is valid.  After  the  payment  has  been  settled  by  the  surety, the  principal  will  be  asked  to  reimburse  the  said  payment.

 

Apply for a Solid Waste Transfer Station Bond HERE!

New York Solid Waste Transfer Station Bond

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