New York talent agency surety bonds are required of certain types of talent recruitment agencies in the state. Think your business may need one? Keep reading to find out.
What is a New York talent agency?
The state of New York and New York City both license talent agencies; agencies outside of the city register with the state Department of Labor (DOL), while those in the city register with the NYC Department of Consumer Affairs (DCA).
In all of New York state, talent agencies are licensed as employment agencies. A talent agency is specifically one that finds employment for models, artists, and other entertainment professionals, and is�also referred to as a theatrical employment agency or modeling agency. A $10,000 surety bond is required for all talent agencies in New York.
In NYC, a talent agency applicant can apply for licensure online or in person through the DCA. Before filing the application, agencies must obtain the following documentation:
- Applicable business certificates based on business structure (sole proprietorship, LLC, etc.)
- Premises approval by the Department of Buildings
- Theatrical Employment Agency Self-Certification
- $10,000 surety bond
- Copy of Fee Paid letters if applicable
- Fingerprints for each control member plus $87 processing fee
- Granting Authority to Act Affirmation if someone other than the applicant files the application
Talent agency licenses are valid for two years and expire on May 1 of even years. Applicants pay a fee based on when their application is filed and the number of placement employees:
- Filed between May 2 in an even year to April 30 of an odd year, 1-4 placement employees�$500
- Filed between May 2 in an even year to April 30 of an odd year, 5 or more placement employees�$70
- Filed between May 1 in an odd year to October 31 of an odd year, 1-4 placement employees�$250
- Filed between May 1 in an odd year to October 31 of an odd year, 5 or more�placement employees�$350
- Filed between November 1 in an odd year to May 1 of an even year, 1-4�placement employees�$125 or $625
- Filed between November 1 in an odd year to May 1 of an even year,�5 or more�placement employees�$175 or $875
Those filing between November 1 of an odd year and May 1 of an even year can pay the prorated amounts to cover the rest of the licensing term plus the next licensing term.
Outside of NYC, talent agency applicants apply with the DOL and submit an application similar to the DCA’s. Their licensing fee schedule is the same, and their application and other forms are available online. New York talent agencies must display a sign that is at least 12 inches by 18 inches, with letters at least one inch high, and must display their license conspicuously.
This is not a complete list of all information required by NYC and New York state governments, and applicants should thoroughly review all provisions of their application.
Why do talent agencies need a bond?
The $10,000 surety bond any NY or NYC talent agency must post is the agency’s guarantee that they will obey the law and conduct business according to the terms of the license and bond. In this case, it ensures agencies follow New York’s Employment Agency Laws�or risk facing license revocation, misdemeanor charges, and fines of up to $2,500 per violation.
Talent agency surety bonds protect any client that suffers financial damages as a result of the agency’s business practices. If the client files a claim that is proven valid, they can be compensated by the surety. The bond is a reassurance to clients that the agency is following the law, and offers recourse should that change.
Ready to get your New York talent agency bond? Single Source Insurance is ready to help!