New York Ticket Reseller License Bond
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How much will my $25,000 New York ticket reseller license bond cost?
Ticket reseller license bonds in New York are subject to underwriting consideration. The price you pay for your surety bond will depend on an underwriter's review of your application, credit score, and financial history. If you are interested in a NY ticket reseller license bond, complete our bond request form here and a surety specialist will contact you with a free quote.
Why do I need this bond?
Being bonded means protecting people from any unjust business practices or fraud conducted by ticket resellers in the state of New York. This specific 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. Unethical acts covered by this bond include, but are not limited to:
- Failing to charge compensation for tickets
- Charging unjustified and illegitimate fees for tickets
- Failing to state the price on the actual ticket that the consumer is purchasing
- Not including a disclosure of obstructed views for the event
- Failing to maintain the appropriate records of sale
If the principal (ticket reseller) 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. The principal will then be responsible for reimbursing the surety in a reasonable amount of time.
What’s the fine print?
This bond runs in full force and effect as long as the principal remains in compliance with all provisions listed on the bond form. If the surety or the principal decide to terminate the bond for any reason prior to its set date of expiration, a 90-day written notice must be submitted and filed with the obligee (Department of State). This bond will expire after one year. The signature of a notary public is required on the original bond form to act as a contractual acknowledgment between the surety, principal and obligee. The principal also must specify that he or she is a ticket reseller when filling out the bond form.
How to become a ticket reseller in New York
It is considered illegal to resell tickets for admission to events without having the proper license to do so. The following documents and components must be completed in full and submitted at the time of application:
- Designated application form
- Required processing and licensing fees
- A copy of a surety bond posted in the amount of $25,000
- Any additional documentation requested in specific cases
Our experts are familiar with these licensing requirements and are prepared to answer any questions you may have concerning the conditions stated above.
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