New York Bill Would Require Insurance Fund Bond for Oil Carriers

Written by JoAnn Smith on June 23rd, 2014. Posted in Commercial Bonds, Freight Broker Bonds (ICC Bonds), New York, Surety Bond Blog, Warehousing Bonds

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Disasters like this are covered by an insurance fund bond
With the memory of the recent disaster in Quebec still fresh in many minds, lawmakers in Albany New York have introduced a bill that would require all petroleum bulk storage facilities as well as any company transporting such materials to have sufficient insurance fund bond coverage.
While it cannot avert a disaster like the one in Quebec it could assure that taxpayers were not left holding the bill after the dust settled. The amount of coverage that would be required has been increased that would cover all decontamination and cleanup after such a crises.

Covering the Cost of Disaster

As more cities are seeing an increase in the amount of rail traffic that includes dangerous and toxic material travelling through highly populated areas, an increased need for some assurance that the high costs of recovery will be handled by the companies responsible. This is why the recent Assembly Bill 9926 was introduced in the New York Assembly. This bill will increase the amount of the required insurance fund bond that all companies must have if they store petroleum products in bulk storage facilities.

A Surety to Cover All Contingencies

Whether you are a company that moves dangerous materials or a truck broker that moves goods of all kinds, having the right surety bond coverage is an important part of business. With new laws coming into play each year, it is important to stay on top of the latest regulations in any business that deals with dangerous goods. You can find out the latest news on this blog or ask our informative and friendly BuySuretycustomer service staff about your surety bond coverage. From insurance fund bond coverage to basic license bonds, we can help your company find the surety bond you need today.

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License Bond Requirements in Place for New York MMA and Marijuana

Written by JoAnn Smith on June 9th, 2014. Posted in Bond Types, Latest News, Legislation, License and Permit Bonds, New York, Surety Bond Blog

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New license bond requirements are coming to New York
If you are planning to either sell medical marijuana as a legal dealer or host a performance of mixed martial arts, you may soon be able to in the state of New York. However, you will need a license and the license bond that goes with it. That is, if the two bills currently in the legislature pass muster. While these two occupations may seem to be very different, the truth is that they both need similar permit and licensing to pursue them in New York, and the way you will need to do this is about to go into law. They will also both need licensing from a state authority, one from the Liquor Authority and one from the State Athletic Commission. My guess is you can figure out which one they need, but there are more details below.

Changes to New York Marijuana Laws

While legislature is still being debated in the State Senate for medical marijuana, the Assembly passed AOBill 8341 with a two-thirds majority. The bill, when passed by the Senate, would allow the development of medical marijuana producers, processors and retailers in the state. This would be very similar to the ones that have been in existence in California for over 20 years now. Although the bill doesn’t address the question of a license bond specifically in it, the Liquor Authority will have the ability to choose to require a license bond as part of the licensing procedure when the bill passes. The Liquor Authority would be the legal body to set limits on the amount of the license and permit bond and decide if it is to be revoked as well.

Is Mixed Martial Arts Unsafe for New Yorkers?

Once again a bill has passed the State Senate and moved on to the Assembly where it may be stalled as it was in the last four years. The bill, which wants to re-legalize Mixed Martial Arts (MMA) in New York, has been in legislative hands for five years in a row, always so far with the same result. Once again we may see a stalemate in the Assembly that kills the bill and any possibility of seeing MMA in New York in the near future. The question, ever since the sport was banned in 1997, is the brutality of it and the possible brain damage that can happen to participants because of its “no holds barred” nature. But the sport has become more popular, with greater regulation, in the last few years and many think this may be the year legislative control is passed to bring it back to the state of New York. If passed, two surety bonds would be required. The first one, a license bond, would ensure compliance with state regulations for the sport. The second surety bond, a performance bond, would be required to guarantee participant purses and employee salaries. Both would be governed and policed by the State Athletic Commission, who would also set the surety bond amounts for both the license bond and the performance bond.

Fast and Easy License Bonds for New Yorkers

If you or your business is facing new legislative requirements for surety bonds such as a license bond, it helps to know a good place to find the right one quickly. That is where a trusted surety bond provider like BuySurety comes into play. We have been providing surety bonds including license bonds, performance bonds and even bid bonds to a wide variety of businesses across the country for over 20 years. Why not pay a visit to our website or give our helpful customer service reps a call today? With BuySurety you can find the surety bond you need at a price that will make your accountant happy too.

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New York and Vermont Motor Fuel Distributor License Bonds

Written by JoAnn Smith on April 18th, 2014. Posted in Commercial Bonds, Latest News, Legislation, License and Permit Bonds, New York, Surety Bond Blog, Vermont

     distributor license bond requirements change      
Distributor license bond requirements change
For motor fuel distributors in New York and Vermont, changes are coming soon regarding the regulation of distributor license bonds. The two states are looking at changing legislation that regulates the fuel distribution industry by making changes or introducing the requirement for surety bonds when it comes to their distribution licenses. While the two states currently have very dissimilar approaches to the regulation of motor fuel distribution, this will change if these two bills should pass.

Changes for Vermont Fuel Distributors

If passed, Vermont Senate Bill 314 would make changes to the requirements for motor fuel distributor licenses. The current license requires the owner to post a license bond of $400,000 as part of their permit and licensing procedures. However, if this bill should pass it would change that requirement to the posting of a $1 million surety bond.

Distributor License Bonds for New York Fuel Distributors

Meanwhile, in the state of New York legislature is considering changing the requirements for anyone that distributes or engages in the business of importing motor fuels or liquefied petroleum gas, along with terminal operators. These types of businesses will, if New York Senate Bill 1719 is passed, now be required to post a surety bond. The amount of the surety bond to be posted will be determined at a later date.

Distributor License Bonds from BuySurety

While the laws may change from state to state regarding the licensing and regulations of such businesses as fuel distribution, one thing is certain. No matter what kind of surety bond your business finds itself suddenly being required to carry, BuySurety can help you stay legal and within budget. We have experienced surety bond agents who can find exactly the right fit for your business, at a price you can afford. Don’t take chances with something as important as your businesses requirements for bonding. Get bonded for distributor license bonds or any other type of surety bond with BuySurety and be sure.

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New York Employment Agency Bonds Up for Renewal May 1st

Written by JoAnn Smith on April 15th, 2014. Posted in Latest News, License and Permit Bonds, New York, Surety Bond Blog

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Model employment agency bond requirements change
In New York State as well as New York City, if you run an employment agency, particularly if you run one for models, your employment agency bond needs to be renewed on May 1st 2014. The state of New York requires that all employment agencies have this particular type of bond in place and active.
The employment agency bonds have a common renewal date of May 1st on even numbered years, which makes 2014 one of the years for renewal. With the recent reminder sent out, it should give New York employment agencies enough time to shop around for a new employment agency bond this year.
Of course, an employment agency or modeling agency in New York can renew that surety bond earlier. But they have to have the bond renewed every other year, and the deadline for having the new bond in place is May 1st.

Theatrical, Modeling and Employment Agency Bonds

In fact, more than simply ordinary employment agencies are required to carry these employment agency bonds as part of their license for doing business in the state of New York. Any agency, including modeling agencies and theatrical agencies are all required to carry these surety bonds. New York City has long been a cultural hub on the Eastern Seaboard and has a long history of having numerous agencies for everything from runway models for the fashion industry to theatrical agencies for the hundreds of off-Broadway as well as Broadway shows. When you add these agencies to the hundreds of temporary employment agencies and executive placement employment agencies in the state, it is easy to see why they began to require that all agencies of this type carry employment agency bonds.

Find Your Employment Agency Bonds Fast at BuySurety

You can make sure your New York employment agency is properly bonded with BuySurety. The current requirement for an employment agency bond in New York is a $5,000 bond for a basic employment agency and a $10,000 employment bond if the company specializes as either a modeling agency or theatrical agency. BuySurety can provide both types of surety bonds quickly and at a great price. With over two decades of experience providing surety bonds, including employment agency bonds, you can be sure the BuySurety will have the bonds you need at a price you can budget for easily.

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New Jersey, New York and Pennsylvania Surety Bonds for Auto Dealerships

Written by JoAnn Smith on December 7th, 2013. Posted in Bond Types, Commercial Bonds, Legislation, License and Permit Bonds, Motor Vehicle Bonds, New Jersey, New York, Pennsylvania, States

     surety bonds for auto dealerships
What a road for inviting more drivers!
These three states are the business bedrock for many when it comes to the eastern seaboard, especially if for auto dealerships. Of course, New York is the center of commerce, culture and so much more. New Jersey may have gotten sloppy seconds in terms of respect, but it remains a great location for a road trip up along the east coast. When you round these out with Pennsylvania you have an area that is rich in history, tradition and of course plenty of highways to host all those cars you intend to sell from your auto dealership. Yes, a corny way to look at it, but then with Coney Island and Housewives of New Jersey, we just might be allowed to get a bit corny here.

New Jersey Auto Dealer Requirements

With all the jokes made about New Jersey and its residents, you would expect the rules and regulations for surety bonds for auto dealerships to be pretty complicated in this state. You know, to maybe hide the shady dealings going on in the business. But then again, all those impressions of New Jersey being run by guys with crooked noses must be more fiction than fact, because the regulations for New Jersey auto dealerships are pretty straight-forward. Any dealership, whether they are selling cars or trucks and regardless of vehicles being new or used are required to post a $10,000 surety bond for each auto dealership. New Jersey auto dealer bonds all expire on March 31st and bonds must be for a 12 month period, renewed every year when they expire. So – get outta here if you think otherwise!

Pennsylvania Auto Dealer Bonds

A state that is filled with history, the Liberty Bell and cars! The countryside may be filled with pretty little winding highways but cities like Philadelphia seem to be filled with cars, and car dealerships. The state of Pennsylvania requires anyone with an auto dealership to post a $20,000 auto dealer bond as part of their licensing procedure for that dealership. In fact, the dealer bond is a condition of that license and you cannot obtain one in Pennsylvania without proof of a surety bond for auto dealerships.

Auto Dealers in New York

If you are like me, the words New York conjure up that great city and the millions of yellow cabs that run through its concrete canyons. But New York is so much more than that, with a scenic turnpike running up to Albany and the great Hudson River flowing past historic Woodstock to the sea. New Yorkers do love their cars, and you can tell by the number of auto dealerships the state supports. Luckily the surety bond requirements for licensing a New York auto dealership are very simple. Both new and used motor vehicle dealerships are required to post a $10,000 surety bond for auto dealers as part of their licensing in New York. The state has no other requirements regarding when to post it or whether you sell cars, trucks or motorcycles.

Surety Bonds for Auto Dealerships

Opening an auto dealership is complicated, but getting the right surety bond for it is easy. That is, if you contact BuySurety for all your surety bond needs right from the start. Having a resource to cover all the bases for you is a huge help for many business owners, and you have that with BuySurety. Not sure what the state requires? Unsure if you qualify for that specific surety bond? Just visit our website or contact us directly to get all your questions answered. Getting bonded doesn’t have to be complicated. With BuySurety you can fulfill all your bonding requirements for your business at a price that will make your accountant smile.

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