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For-Hire Vehicle Base bond cost

If your business dispatches for-hire vehicles and the location of these vehicles, the New York City Taxi and Limousine Commission requires that you post a bond in the amount of $5,000.

Why this bond

By posting a bond, the principal obliges to truly comply with the provisions of Title 19, Chapter 5 of the Administrative Code of New York City, in addition to all rules and regulations given by the Taxi & Limousine Commission.

For-Hire Vehicle Base bond details

This specific bond type has a given expiration date. All bonds will remain continuous during the term unless canceled by the surety. If the surety chooses to cancel a bond, a written cancellation notice must be sent to the Taxi & Limousine Commission 30 days prior to the given cancellation date.

Become a for-hire vehicle base station

To legally operate as a for-hire vehicle base station you must be licensed. All license applications must be completed in full and be accompanied by the following attachments:

  • Child support certification
  • For-hire insurance certificate
  • $5,000 surety bond

Additional information might be required on a case-by-case basis. To find out what all you need to submit for license approval, contact the Taxi & Limousine Commission.

Apply for your surety bond

Get A FREE For-Hire Vehicle Base Bond Quote Today! Click here to begin

 

Additional information