Watch, guard, and patrol agencies in New York state are licensed by the New York Department of State, Division of Licensing.
The licensing laws for the profession are found in a booklet that is available in a downloadable format.
As a condition of licensing, watch, guard and patrol agencies must first file a $10,000 surety bond with the NY Department of State.
The purpose of the $10,000 New York watch, guard or patrol agency bond is a financial guarantee which ensures that the licensee and related persons will comply with all rules and statutes in the conduct of their professional duties.
The bond, moreover, protects others, that is, members of the public, from any acts of fraud, theft, or criminal misconduct committed by a licensed company, its employees, managers, or owners against members of the public in the course of their business duties.
As such, the bond serves as a way for the public – and the state--- to financially be made whole from any harm caused by a licensed agency.
If a claim were to be paid from the surety bond, it would be the financial duty of the principal (i.e. the purchaser of the surety bond) to reimburse the surety in full for all costs involved in satisfying the claim.
The licensing term provided by the Department for is for two years; and this surety bond will have an option to be paid for one or prepaid for 2 years; the latter offering a small savings over an annual renewal.
As you probably already know, you’ll pay nowhere near the $10,000 surety bond amount.
The premium may surprise you, as it may be as low as only 1-3% of the bond’s amount.
The premium that you will pay, however, will be determined by an application along with a standard credit check.
The application can be taken directly over the phone, and only takes a few minutes to complete.
AmeriPro Surety Bonds is a surety bonds-only agency: All we do are surety bonds.
Our agency provides license and permit, contractor, court, and fiduciary bonds throughout New York state.
We also provide surety bonds for customers, small and big, nationwide.