Bond, letter of credit or certificate of deposit required
Every health club (including health spas, gyms, martial arts schools, and weight control studios) offering instruction, training, or assistance in physical fitness. Required when: Before the health club enters into any contract for services for use by a buyer. Exemptions: Health clubs are exempt if: 1) All payments (i…
Overview
What it is.
Every health club (including health spas, gyms, martial arts schools, and weight control studios) offering instruction, training, or assistance in physical fitness. Required when: Before the health club enters into any contract for services for use by a buyer. Exemptions: Health clubs are exempt if: 1) All payments (i…
Who usually needs it
Every health club (including health spas, gyms, martial arts schools, and weight control studios) offering instruction, training, or assistance in physical fitness.
Pricing & timing
What to expect.
Generic pricing
Miscellaneous commercial bonds cover a wide range of business obligations not fitting other categories. Typical Pricing:. • Small bonds (under $25,000): Typically $100–$250 per year (flat fee). • Larger bonds: Commonly around 1–5% of the bond amount annually. • Credit impact: Good credit: starting around 1–2% · Average credit: typically 2–4% · Credit challenges: often 4–5% or higher. Pricing varies by specific bond type and requirements. Some miscellaneous bonds may price higher depending o…
Typical timeframe
Credit-based approval — varies by bond type
Application
What to do next.
Tell us the bond name, state, and amount on your form.
Share business and applicant info so the team can quote it.
Sign and pay; we issue the bond and send you the documents.
Keep your effective date and renewal date on file with us.
Start the application.
You are on the exact bond page. The next step is to start the quick application.
StateNYBond amountThe amount is based on the length of the contract term: $50,000 for terms up to…Term lengthContinuousObligeeNew York Secretary of State, Department of State, Division of Licensing ServicesRenewalThe bond must be maintained at all times. It remains in effect until cancelled; the surety must provide at least 45 days' notice to the Secretary of State prior to cancellation, revocation, or termination.Bond classMiscellaneous CommercialCategoryEducationBondBond, letter of credit or certificate of deposit requiredStatutory referenceNew York General Business Law § 622-aJurisdictionState
