New York City Process Server Agency Bond
AmeriPro Surety Bonds | 844-589-9732
New York City Process Server Agencies
Your New York City process server agency business may be a sole proprietor ship. It might be an S-corporation, a C-corporation or an LLC, which continues to grow in popularity.
But if your process server agency, whatever the business structure, sends out person or persons to engage in services of process on behalf of your company other than yourself, the New York City Department of Consumer Affairs requires you to obtain a $100,000 New York City process server agency bond.
AmeriPro Surety Bonds will help you to get your required surety bond, because it’s a condition for licensing with the Department.
(We also provide the $10,000 New York City process server bond for individuals).
New York City Process Server Agency Bond: The Purpose of this Bond
The purpose of the New York city process server agency bond is to act as a financial guarantee that licensed process server agencies will be in compliance with all rules and laws relating to their profession.
The bond moreover protects others; not the agency or employees of the agency — but the people of the city of New York — from any acts of fraud or criminal misconduct committed by a New York City process server company, agents, owners, or managers against members of the public.
The bond’s existence allows those persons who can truly demonstrate financial harm to file against the surety bond in an attempt to recover any losses.
But your process server agency surety bond is not an insurance policy.
Should the surety pay a claim, it is the legal responsibility of the process server agency (known in surety lingo as “the principal”) to repay the surety company for all costs involved in the settlement of a surety claim against the process server agency.
New York City Process Server Agency Bond: The Premium & Qualifying for this Bond
The price you will pay for the process server agency bond will be a small fraction of the $100,000 surety bond amount.
The amount you will pay, however, will be determined by the following:
- An application;
- A standard credit check (AmeriPro Surety Bonds utilizes a “soft pull” credit inquiry which does not adversely affect your credit as a so-called “hard inquiry” might).
Because of this bond’s large size, you may expect to be asked to provide answers to the following:
- Cash on hand (this may be cash in checking and saving accounts);
- Your net worth—(this is determined by adding up your assets minus your liabilities);
- Investment held, their current market value, type, and where your investments are held;
- Whether or not you have any tax liens, unsatisfied judgments, or bankruptcies. (An active, non-discharged bankruptcy will likely prevent you from being bonded).
Since the Department of Consumer Affairs issues the process server agency license for two years, the bond is sold on a two year duration — which of course, affects the bond’s price.
Our agency will work to provide you the best surety bond pricing available for your credit and application standing.
After the Bond’s Purchase
Once you have purchased this bond, our agency can send an email copy of the bond to you immediately.
You will not be able to file this bond with the Department, however; they only accept an original of the bond, which also must be signed by you.
Our agency will send the bond out to you immediately once purchased, or by at latest at the next business day.
About AmeriPro Surety Bonds
AmeriPro Surety Bonds is a surety-bonds only agency.
Because our focus is strictly surety bonds, we give your surety bond all the attention it deserves and more.
Our agency provides license and permit, contractor, court, and fiduciary bonds throughout New York state and nationwide.
Be we know: All YOU care about is your process server bond. And we understand.
We thank you for choosing our agency for your surety bond needs and look forward to working with and for you.
Please call AmeriPro Surety Bonds today: 844-589-9732