New York Bounty Hunter Surety Bond
AmeriPro Surety Bonds | 844-589-9732
New York Bounty Hunters
If you are interested in a career as a New York bounty hunter (alternatively known as bail enforcement agent) you must be licensed and registered with the state of New York.
Registration in New York state is a process. The state also requires that in order to become a bounty hunter you must also obtain a surety bond. The New York Department of State is the bond’s obligee.
New York Bounty Hunter Surety Bond: Amount
The NY bounty hunter surety bond is a $500,000 surety bond which is required of bounty hunters who who wish to be licensed by the state.
Because of this bond’s very large amount, the process for obtaining your surety bond involves gathering considerably more information that might be required for most other surety bonds; however, AmeriPro Surety Bonds will work with you to make the process as easy as possible.
That having been stated, as an applicant for the bounty hunter surety bond, you may be asked to provide the following information:
- Your current employment, and your monthly or annual salary;
- Cash that you have on hand in savings and checking accounts – and the banking location of those accounts;
- Investments that you own: This includes certificates of deposit, 401k’s, stocks, mutual funds, bonds, annuities, REITS, and other securities. You may be asked to provide the current market value of these securities and also where they are held;
- Any real property owned by you or jointly owned with a spouse or someone else;
- Whether you have filed for bankruptcy, or have any currently unsatisfied judgments or tax liens (the presence of these may be disqualifying);
- Your overall net worth — which is the sum total of your assets minus your liabilities.
Suggestion: For whatever it may be worth, ideally, if you as an applicant can provide an audited financial statement, the process and the timeline for obtaining this surety bond may become considerably easier. It is not strictly required, however.
New York Bounty Hunter Surety Bond: The Purpose
The purpose of the bounty hunter surety bond is to protect the public from acts of criminal misconduct, fraud, theft, or malfeasance involved in the duties of being a license bounty hunter.
As such, this surety bond is not for the protection of the bounty hunter at all.
No; properly understood, this surety bond is protection for the public against any criminally liable misdeeds by a New York licensed bounty hunter.
The bond is purchased by the licensed bounty hunter who is known as the principal for this surety bond.
If there were ever a claim paid on the surety bond, it would be your legal responsibility, as principal, to reimburse the surety company for all costs involved paid by the surety on your bond.
New York Bounty Hunter Bond: The Premium
The premium for this surety bond is the amount that you will be required to pay for its issuance.
Fortunately, the premium is a small percentage of the bond’s amount; however, that amount is on its own fairly substantial.
The premium you will pay will be determined by the information found provided on the application, as also your credit score.
Because of this bond’s amount, we may be able to offer premium financing.
Duration of Your New York Bounty Hunter Bond:
Once purchased, this surety bond is good for one year from the date of issuance. This bond renews on annually and must be kept active as a condition for maintaining licensing with the state.
Steps to Become a New York Bounty Hunter:
The following steps are required to be a licensed bounty hunter in New York state:
- You must be at least 25 years old;
- You must have at least 3 years of law enforcement related experience;
- Normally, you must have at least 25 hours of training experience in the bounty hunter profession. There is an exception for police officers with at least 3 years of experience;
- You must provide fingerprints for a background check;
- You must complete an application and pay the nonrefundable $400 application fee;
- Of course, you must obtain a $500,000 surety bond, available through our agency.
About AmeriPro Surety Bonds
New York state takes the bounty hunter career very seriously and only wants truly qualified individuals as licensees.
The size of this surety bond alone is enough to weed a lot would-be bounty hunters away from the profession.
AmeriPro Surety Bonds will work with you every step of the way in obtaining the bounty hunter bond that you require. We are knowledgeable, thorough, and helpful; and our experience will be at your full use.
We are a surety bonds-only agency providing surety bonds throughout the US. Surety bonding is all that we do!