Ticket Reseller license bond cost
Surety Bonds offers Ticket Reseller license bonds in New York for different costs depending on each applicant’s individual credit history.
Even though this bond is subject to underwriting, our surety specialists will work hard to get you the best price possible for your unique credit situation. The bond amount required to be posted by each applicant must be in the penal sum of $25,000.
Why this bond
Being bonded means protecting people from any unjust business practices or fraud conducted by ticket resellers in the state of New York. This specific bond type assures that if consumers are wronged, they have a safeguard from unprofessional acts of business and can be compensated for any potential losses they may face. Unethical acts covered by this bond include, but are not limited to:
- failing to charge compensation for tickets
- charging unjustified and illegitimate fees for tickets
- failing to state the price on the actual ticket that the consumer is purchasing
- not including a disclosure of obstructed views for the event
- failing to maintain the appropriate records of sale
If the principal (Ticket Reseller) violates the terms of his or her bond agreement and a consumer is harmed as a result, the surety will pay for all damages up to the full bond amount. The principal will then be responsible for reimbursing the surety in a reasonable amount of time.
Ticket Resellers license bond details
This bond runs in full force and effect as long as the principal remains in compliance with all provisions listed on the bond form. If the surety or the principal decide to terminate the bond for any reason prior to its set date of expiration, a 90-day written notice must be submitted and filed with the obligee (Department of State). This bond will expire after one year. The signature of a notary public is required on the original bond form to act as a contractual acknowledgement between the surety, principal and obligee. The principal also must specify that he or she is a ticket reseller when filling out the bond form.
Become a Ticket Reseller
It is considered illegal to resell tickets for admission to events without having the proper license to do so. The following documents and components must be completed in full and submitted at the time of application:
- designated application form
- required processing and licensing fees
- a copy of a surety bond posted in the amount of $25,000
- any additional documentation requested in specific cases
Apply for your surety bond
Get a FREE Ticket Reseller License Bond Quote Today! Click here to begin
- State of New York Ticket Reseller License Bond – Sample Bond Form
- New York Department of State – Ticket Reseller Application
- Licensing of Ticket Resellers
- Division of Licensing Services – Ticket Reseller
- Certification of Bonded Status (for renewal purposes)
- Division of Licensing Services – FAQ Ticket Reseller