If you are engaged in the operation of a professional employer organization in New York you are required under Article 131 of the State of New York Labor Law to file a New York Professional Employer Organization Bond as a condition of licensure.
Bonds Express offers a New York Professional Employer Organization Bond with a 99% approval rate.
A surety bond protects the party requesting the bond, the Obligee, against any financial losses as a result of poor financial decisions, damages, unethical decisions, or a failure to follow state and local laws on the part of you, the Principal. The New York Professional Employer Organization Bond holds you accountable for your business decisions.
By possessing a New York Professional Employer Organization Bond, you are telling your Obligee that you can be trusted as a Principal and that you stand behind your business decisions.