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The New York Health Club Bond is required by the New York Department of State for all health clubs. A health club is defined as any person, firm, corporation, partnership, unincorporated association, or other business enterprise offering instruction, training or assistance or the facilities for the preservation, maintenance, encouragement or development of physical fitness or well being. The bond ensures that the bondholder will follow all rules and regulations of the provisions of Article 30 of the General Business Law.
What are the costs associated with the Health Club Bond?
The amount of the surety bond varies, please refer below for the amount you will need to submit.
- $50,000 if the health club sells contracts for services for a term not greater than 12 months; or
- $75,000 if the health club sells contracts for services for a term more than 12 months and up to 24 months; or
- $150,000 if the health club sells contracts for services for a term more than 24 months and up to 36 months.
For health clubs with multiple franchises, there is an additional cost.
- For three to four locations an additional $50,000,
- For five to six locations an additional one $100,000,
- For seven to nine locations an additional $150,000,
- For 10 or more locations an additional $200,000.
How do I obtain a New York Health Club Bond?
Complete our easy to navigate online application. Within one business day, one of our licensed agents will contact you with a no-obligation quote for your bond (the “premium”). Once any necessary paperwork is signed and the premium payment is processed, your surety bond will be shipped to you via USPS Priority Mail (overnight shipping options also available).
The surety bond experts at Surety1 are here to help you get bonded quickly and reliably. We work with over a dozen “A” rated surety markets to ensure we find you the lowest rate for your bond. We are also licensed in all 50 states and maintain an A+ rating by the Better Business Bureau.
How to Get Your New York Health Club Bond
- Complete an online application. It’s free and no-obligation.
- One of our surety experts will contact you with a firm quote and an agreement to sign.
- Provide payment and your signed agreement, and then you will receive your Surety Bond!
If you have any questions, please call us at 877-654-2327.
Surety1 was founded in 2003 and helps thousands of clients find the best prices on their surety bonds. We take pride in our work so that we can give you great service. Learn more about Surety1.