New York Second Hand Dealer Bond
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How much will my New York second hand dealer bond cost?
SuretyBonds.com offers $1,000 New York City second hand dealer bonds for a minimum of $100 at a rate of $30 per $1,000 of the bond's amount.
Hempstead, New York also has a second hand dealer surety bond requirement. Licensees must have a $2,000 surety bond, which also costs $100 and is issued instantly.
If you’re ready to get bonded without having to furnish a credit report, call SuretyBonds.com at 1 (800) 308-4358 or fill out our online bond request form. We can approve you for the bond you need in just 5 minutes. It’s as simple as that!
Why do I need this bond?
Being bonded means protecting people from any unjust business practices or fraud conducted by secondhand goods dealers specifically in New York City. This bond type assures that if consumers are wronged, they have a safeguard from unprofessional acts of business and can be compensated for any potential losses they may face. By posting this bond, the principal (second hand dealer) promises to obey all applicable rules, regulations and ordinances of the New York City.
If the principal violates the terms of his or her bond agreement and a consumer is harmed as a result, the surety will pay for all damages up to the full bond amount.
Work one-on-one with our experts who are here to help you.
What’s the fine print?
This bond will run continuously in full force and effect unless otherwise canceled by the surety or the principal. If the principal does not remain in compliance with the approved rules and regulations, the state’s obligation to the principal will become void. This bond must expire on July 31 of all odd years.
How to become a secondhand dealer in New York
It is against the law to conduct business as a second hand dealer of goods in New York City, New York without first obtaining the proper license. Businesses exempt from this requirement include:
- Used clothing stores
- Garage sales
- Used boat dealers
- Not-for-profit organizations
The following documentations and other relevant components must be submitted at the time of application:
- Basic license application
- Sales tax identification number or certification of authority application confirmation number
- A copy of the principal’s second hand dealer compliance bond posted in the amount of $1,000
- Child support certification form
- Full set of fingerprints
- Mandatory processing fee
- Mandatory licensing fee
Ready to get started?
Additional Resources
Secondhand Dealer License Information - NYC Consumer Affairs
NYC Department of Consumer Affairs - Basic License Application
New York City Department of Consumer Affairs - Official Homepage
New York Administrative Code Title 20, Chapter 2, Subchapter 11: Dealers in Second-Hand Articles
Have Questions?
Call 1 (800) 308-4358 to talk with a Surety Expert today.
