A New York bill that was recently enacted will require a surety bond of telemarketers.
Details on the New Requirement
The new bill requires telemarketers to apply for a certificate of registration and provide a $25,000 bond, letter of credit or certificate of deposit.
Such bond, letter of credit or certificate of deposit shall be maintained for three years from the date the telemarketer ceases telemarketing, or three years from the date the certificate of registration terminates, whichever is earlier, and shall be payable in favor of the people of the state for the benefit of any customer injured as a result of a violation of applicable law.
How to Apply for a Surety Bond
If you find that you must obtain this surety bond, you’ll need to contact a bond provider who is licensed to to business in New York. JW Surety Bonds is licensed nationwide, so please apply for a free quote online, or feel free to reach out to us if you’d like assistance with obtaining this bond.