877-654-2327 All New Surety Bonds

877-930-8127 - Renewals Department
Surety1 was Founded in 2003.  Low-Cost Bond Provider.  Over 150,000 Happy Customers and Counting!   Find Your Bond >

Surety Bonds on Service Contracts Proposed in NY

Perfromance Bonds on Service Contracts

New York SB 1246 would require a performance bond on contracts in excess of $500,000 for the state and political subdivisions to purchase private security services.  The performance bond would be required to be in an amount adequate to ensure the protection of the government, but shall be no less than 50% of the amount payable under the contract.

In addition, Surety Association of America is working with the bill sponsor of the law to see that the bond will be renewed annually because many of these contracts are multi-year agreements.

Apply to Get Your Surety Bond Now

Get started with the bond application process today.

Most bonds are fully processed within 1-2 business days. In some cases, you'll hear back from Surety1 within hours!

Leave a Reply

Your email address will not be published. Required fields are marked *

1. Apply Online Using our Free & Secure Application 2. Get Your Free Quote Applications are No-Obligation 3. Get Your Bond Most Bonds are Approved in 1-2 Business Days