New York City Car Wash Bond
In June 2015, New York City passed the Car Wash Accountability Act to mandate and establish higher responsibility and requirements for car wash operators in the city. Though the act went into effect at the end of 2015, the New York Department of Consumer Affairs began enforcing the act in December of 2017.
What Is A New York City Car Wash Bond?
Classified as a wage payment bond, this surety bond guarantees that car wash operators will run an ethical and honest business, including paying any penalties in a timely manner, providing a healthy and safe work environment, and properly paying their employees.
Should the car wash operator fail to do any of the above, the city or one of their employees could file a claim against the bond. If the claim proves valid, the bond protects the employees and/or the city and reimburses them for any financial losses.
How Much Does A New York City Car Wash Bond Cost?
However, if you have signed a bona fide collective bargaining agreement with a labor organization, that would mean the bond amount is set at $30,000, and you might expect to pay $300-900 for the bond.
Wider Selection Of Companies for Car Wash Bonds
Brunswick Companies’ Senior Vice President of Surety, Mark Levinson, has extensive experience in providing all types of surety bonds. He has developed strong relationships with the leading surety bonding companies to provide our clients with access to more favorable terms and conditions all across the country.
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