Please see below requirements for a Home Improvement license in Nassau County. "A. Escrow Accounts: Any contract payments received by a contractor from a customer prior to substantial completion of the job must be put into a trust (escrow) account in a bank located in New York State within five business days and the customer must be informed where the money is being held within ten business days. The contractor can withdraw the deposit only in the certain circumstances: B. Alternative Surety Bond: As an alternative to the escrow account, the contractor must deliver to the customer a "bond" or "contract of indemnity," guaranteeing that the customer’s money will be properly used or returned. The bond must be delivered within ten business days after the contractor receives the customer’s money." I need guidance on how to meet these requirements.
Contact your bank or local trust bank.