On another page on this website, I talked about some of the basics involved with the Federal Bonding Program. Here, I want to discuss the federal bonds used in this program in more depth. Whether you are an employer looking to utilize the Federal Bonding Program or you are a job seeker looking for a job with a company who uses this program, this information can be useful to you.
The Federal Bonding Program
The Federal Bonding Program started to help at risk job seekers find jobs. Job seekers convicted of a crime or who face other issues don’t have the option of bond. The aren’t bondable for employers using commercial employee dishonesty insurance policies. This means that many employers won’t take a risk on hiring an at risk employee.
Only through participation in the Federal Bonding Program will at risk job seekers become bondable. Employers get these bonds without having to pay for them. This happens when they hire job applicants who are difficult to place. The bond insurance provided by this program will reimburse an employer for damages or loss that occur because of an at risk employee. The coverage provided by this program is 100% bond insurance coverage. This service has has a 99% success rate in helping at risk employees get and keep jobs.
Fidelity Bonding Service
The Fidelity Bonding service delivery is quick and easy. This makes sure that staff members don’t become overwhelmed or bogged down by the process. Some positive features of the service delivery include:
- No federal regulation of bonds that get issued.
- No other programs in the United States that provide Fidelity Bonding.
- No bond approval processing.
- Bonds immediately go to employers.
- If employee dishonesty does occur, there is no deductible in the bond insurance amount.
- There isn’t a special application form that a job seeker has to fill out.
- The employer doesn’t have to submit any papers to get free bond incentive.
- There aren’t any age requirements for the bondee.
- No follow up.
- No termination actions required.
- Bonds can be issued to any job at any company in any state.
- Full or part time employee wages can get bonded.
As you can see, there are many benefits to using the Federal Bonding Program. This program is designed to be easy to use. It tries to help both employers and employees. For employers, it can give the peace of mind of knowing that they will get covered if they hire at risk employees. For potential employees, it can help give them a fair chance at getting hired for a job. So long as the job seeker is qualified, there should be no obstacles standing in the way of them being hired.
If you are looking for more information on the Federal Bonding Program, you can contact my office. I am happy to answer your questions or discuss this program with you. We can determine if the Federal Bonding Program is right for your situation, or if it will be better for you to apply for something like a provisional pardon.