All 5 boroughs of New York City require car wash companies to obtain a car wash surety bond.
New York City’s Department of Consumer Affairs is the bond’s obligee. This means that they are the entity that requires the bond as a prerequisite for issuing a license.
AmeriPro Surety Bonds offers you this bond in both amounts for filing with the City.
The New York City car wash bond is in one of two amounts: $30,000 and $150,000. Most car wash operators will be required to purchase the $150,000 surety bond, so below we’ll explain the differences in the two bond amounts required.
You may qualify for the $30,000 surety bond if your New York City car wash company:
Basically, if your is a car wash company that has been unionized (i.e., you have a collective bargaining agreement) you may qualify for $30,000 surety bond.
Otherwise, you will be required to purchase the $150,000 surety bond.
Our friendly suggestion: As you apply for licensing, allow the licensing department to tell you what surety bond amount you are required to purchase, so as to have a definitive answer.
The New York City car wash bond is required as a financial guarantee that employees of a car wash will be paid as required and for all hours worked.
The bond is purchased by the car wash company, but the protections offered are strictly for the car wash employees.
The existence of this surety bond allows those employees who are not paid for work done to make a claim against a surety bond to recover their lost wages.
If a claim is ever paid on the car wash surety bond, it is the legal responsibility of the car wash company to reimburse the surety for all costs involved in satisfying the claim.
The cost (known as the premium) of your car wash surety bond will depend on several factors:
If you are an applicant for the $1.50,000 car wash bond, you may be asked additional information about your personal and financial assets, including investments, and properties owned.
The approval time for the surety bond may be between 1 to 2 business days, depending on how soon you provide the information requested.
However, our agency will work with you every step of the way to get the all of the information needed to have your bond issued.
And, we will work for you to get the best surety bond pricing.
Once issued, the New York City car was bond renews annually. You will want the bond to have dates that match your licensing from the city, so as not to be have any gaps or lapses in bond coverage.
AmeriPro Surety Bonds is a surety bonds-only agency, so our sole focus is getting you the surety bond that you require.
Our agency provides license and permit, contractor, court, and fiduciary surety bonds throughout New York City, New York state, and nationwide.
You’ll see when you call: We are committed to treating you fairly and we work for you.