New York Telemarketer Bond
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How much will my New York telemarketer bond cost?
SuretyBonds.com offers telemarketer surety bonds in New York for different costs depending on the applicant’s credit score.
Even though this bond is subject to underwriting, our bonding experts will work hard to make sure that you get the best price possible for your unique credit situation. The required bond amount that needs to be posted must be $25,000.
Submit our bond request form to receive your personalized telemarketer bond quote!
Why do I need this bond?
The Department of State mandates that all telemarketing companies post and maintain a surety bond when conducting business in New York. This bond is used as a guarantee that all telemarketing companies will comply with state laws as outlined in Article 26 of the General Business Law. If consumers are wronged, they have a safeguard from unprofessional acts of business and can be compensated for any potential losses they may face. Possible violations covered by this bond include, but are not limited to:
- failing to furnish a copy of the certificate of registration
- using another telemarketer’s registration certificate as his or her own
- intentionally giving false of misleading information
- using a revoked or suspended registration certificate
- assisting or supporting any person in violation of article 10-b of the Personal Property Law
- obtaining forms of payment from a person’s checking without their written authorization
- misrepresenting that a premium is a prize
- collecting unjustified funds or payments
If the principal (telemarketer) 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.
What’s the fine print?
This bond runs concurrently with the length of the telemarketing registration. If either the surety or the principal wish to terminate the bond before its set date of expiration, a 45-day written notice prior to cancellation must be submitted and filed with the obligee (Department of State). This bond requires the signature of a notary public in the state of New York to prove acknowledgment of the contractual agreement between the surety, principal and obligee.
How to become a telemarketer in New York
It is considered unlawful for anyone to act as a telemarketer in the state of New York without first obtaining the proper registration. The following information is required in the application process:
- applicant’s name
- business names that the applicant will perform telemarketing services under
- complete street address and primary telephone number of each business location
An additional component that is required at the time of application is the mandatory $500 filing fee.
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