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What is the purpose of a New York Security for Costs Bond?
The New York Security for Costs Bond is a requirement in the State of New York Supreme Court. The bond ensures that the bondholder will pay (on demand to the Defendant) all legal costs which may be awarded to the Defendant in the action. The required bond amount will vary. In the New York Consolidated Laws, Article 85. The security of costs will be enacted to ensure that a New York resident sued within the state by an out of state plaintiff, should not be forced to pursue out of state plaintiffs in other jurisdictions.
How can I obtain New York Security for Costs Bond?
We offer the lowest rates in the market today through our partnership with over a dozen A-rated surety markets. We have over 15 years of experience in the industry . All you need to do is complete the online application form and one of our licensed agents will contact you for the additional steps. Once you pay the bond premium and sign the necessary paperwork. We will you send you the bond through USPS Priority Mail. In most cases it is possible to receive it through other expedited delivery for an additional cost. Surety1 is licensed in all 50 states and continues to maintain an A+ rating with the Better Business Bureau. for our excellence and reliability or service.