Ask Me Help Desk - How do I become bonded in NYC

Quote:

Originally Posted by lynchdrew

I am starting a messenger service for the jewelry trade and need to be bonded. I would like to know how to go about it

Check with the City, see if they require a surety bond for messenger services. If they do not, then no bond can be purchased unless your customers require you to be "bonded". If so, ask them what they want the bond to guarantee, offer them. Then consult with an insurance agent that writes either surety or fidelity bonds or both. If they are worried about your or your employees dishonest acts, then neither will your general liability insurance nor their liability or fidelity insurance cover such acts. There is or may be limited coverage available under a special bond which is generally called a "third party fidelity bond" but it generally offers limited coverage in that your employees must be convicted in a court of law of dishonest acts that cause your customers a loss of their property.