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The New York Performance / Permit Bond – Department of Transportation is a type of surety bond required by the New York State Department of Transportation (NYSDOT) for businesses that wish to obtain a highway work permit or annual highway work permit. The purpose of the bond is to ensure that the permittee will complete the work authorized by the permit in accordance with the terms and conditions of the permit, and to restore the state highway to the condition it was in before the work was undertaken.

The bond amount for a New York Performance / Permit Bond is determined by the New York State Department of Transportation (NYSDOT) based on the scope and complexity of the work to be performed. The bond amount typically ranges from $10,000 to $50,000, but it can be higher for larger or more complex projects.

What is the purpose of the surety bond?

The bond is also intended to protect the NYSDOT from financial losses in the event that the permittee fails to complete the work or fails to restore the highway to its original condition. The bond amount is determined by the NYSDOT based on the scope and complexity of the work to be performed.

Businesses that are required to obtain a New York Performance / Permit Bond – Department of Transportation must purchase the bond from a licensed surety company. The surety company will act as a guarantor of the bond, and will be responsible for paying the NYSDOT any financial losses that it incurs if the permittee fails to fulfill its obligations under the permit. Surety1.com is a licensed surety bond agent.

Here are some examples of the types of work that would require a New York Performance / Permit Bond – Department of Transportation:

• Constructing or maintaining drive entrances
• Installing sewer lines, water mains, gas mains, utility lines, and poles
• Working on street intersections
• Installing or repairing curbs, sidewalks, and drainage systems
• Excavating for miscellaneous structures

If you are a business that is planning to perform any of these types of work in New York State, you should contact the NYSDOT to learn more about the permit requirements.

How do I obtain a New York Performance / Permit Bond – Department of Transportation

At Surety1.com we make it easy to obtain this surety bond. Our simple, three step process is:

1. Complete the easy to navigate and secure online application. ¹
2. Review the free, no obligation quote from one of Surety1’s professional surety bond agents, usually within one business day. ²
3. Sign some paperwork and pay the bond premium

Once these steps have been completed, the Surety Bond will be shipped to the bond applicant.
^{1 -The name of the applicant on the surety bond application must match exactly the full legal business name of applicant for the permit.
2- Subject to underwriter approval, based on aggregate surety bond exposure, additional underwriting information may be required}

Surety1.com is a service of AssuredPartners one of the largest and fastest growing insurance agencies in the nation. Representing over a dozen surety bond companies, Surety1.com is the premier online provider of surety bonds nationwide since 2003.