Platinum Bonds Insurance Agency
Research before you apply.Wage Payment Collection
Wage Payment Collection
Operators of car wash businesses in New York City who hold or seek a car wash license are required to obtain this bond. The bond applies specifically to car wash license holders under the Car Wash Wage Protection Law (CWAL), targeting businesses that wash and polish vehicles, and guarantees compliance with licensing rules including payment of wages, overtim…
Payment bonds guarantee that a contractor will pay subcontractors, laborers, and material suppliers. Typical Pricing:. • Small contracts: Commonly around 1–5% of the contract value. • Larger contracts: Rates generally scale lower as contract size increases. • Payment bonds: Often paired with performance bonds at a combined rate. • Full underwriting required: Credit, financials, experience, and bonding history reviewed. Payment bonds are required on most public proje…
Full underwriting required — typically 3–5 business days
Pin down whether this is your bond, then start the application. Ava can confirm the right state and license type if you are not sure.