Highlights of the Federal Bonding Program

Highlights of the federal bonding program
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THE McLAUGHLIN COMPANY

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Slide 1

Highlights of the Federal Bonding Program Fidelity holding Services Are User-Friendly NO bond endorsement processing–local staff immediately issue bonds to managers NO papers for boss to sign to get free bond motivating force for occupation contract NO development and NO end activities required for bond issued NO deductible in bond protection sum if worker untruthfulness happens NO age prerequisites for bondee other than lawful working age in State NO different U.S. program gives Fidelity Bonding administrations NO Federal directions covering bonds issued ANY occupation at ANY business in ANY State can be secured by the bond THE McLAUGHLIN COMPANY • 1725 DeSales Street NW • Suite 700 • Washington DC 20036 PHONE: 800.233.2258 or 202.293.5566

Slide 2

What Is Fidelity Bonding? Protection to secure business against representative untrustworthiness Covers any sort of taking: robbery, imitation, burglary, and misappropriation basically, an assurance of specialist occupation genuineness A motivation to the business to enlist an at-hazard work candidate An interesting apparatus for promoting candidates to managers DOES NOT cover 'risk" because of poor workmanship, work wounds, work mischances, and so on. Is NOT a safeguard bond or court bond required in mediation Is NOT a bond required for independent work (contract bond, permit bond or execution bond) THE McLAUGHLIN COMPANY • 1725 DeSales Street NW • Suite 700 • Washington DC 20036 PHONE: 800.233.2258 or 202.293.5566

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Why Is Fidelity Bonding Needed for Job Placement? Managers see ex-wrongdoers and other at-hazard work searchers as conceivably conniving laborers, along these lines, denying them work enlist Insurance organizations won't cover dangerous occupation candidates under business Fidelity Bonds bought by bosses to ensure themselves against representative deceitfulness Anyone who has ever "dedicated a fake or exploitative act" is considered NOT BONDABLE by insurance agencies, a circumstance prompting to routine disavowal of work open doors for such people Being NOT BONDABLE is a noteworthy hindrance to business controlled by the hardest-to-place work candidates; this boundary can be disposed of just by The Federal Bonding Program Job holding empowers the business to "acquire specialist aptitudes without going out on a limb" Persons who are NOT BONDABLE can at last turned out to be financially BONDABLE by exhibiting work genuineness amid the 6 months of security scope under the Federal Bonding Program (such business holding will be made accessible by the Travelers Casualty and Surety Company of America; alluded to in the future as TRAVELERS) THE McLAUGHLIN COMPANY • 1725 DeSales Street NW • Suite 700 • Washington DC 20036 PHONE: 800.233.2258 or 202.293.5566

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Who Is Eligible for Bonding Services? Any at-hazard work candidate is qualified for holding administrations, including: ex-wrongdoers, recuperating substance abusers (liquor or medications), welfare beneficiaries and different people having poor budgetary credit, financially distraught youth and grown-ups who do not have a work history, people despicably released from the military, and others Anyone who can't secure work without holding All people reinforced must meet the legitimate working age set by the State in which the occupation exists Self-utilized people are NOT ELIGIBLE for holding administrations (bondee must be a representative who wins compensation with Federal charges naturally deducted from paycheck) Bonds can be issued to cover officially utilized specialists who require holding so as to (a) forestall being laid off, or (b) secure an exchange or advancement to another occupation at the organization Bonding scope can apply to any employment at any business in any State THE McLAUGHLIN COMPANY • 1725 DeSales Street NW • Suite 700 • Washington DC 20036 PHONE: 800.233.2258 or 202.293.5566

Slide 5

How Can Bonds Be Accessed Under the Federal Bonding Program? Any association is currently qualified to convey holding administrations under The Federal Bonding Program; for a long time holding administrations were only conveyed by the State Employment Service All associations issuing Fidelity Bonds must be "guaranteed" to do as such by The Federal Bonding Program The Fidelity Bonds issued to managers covering at-hazard candidates are made accessible only to The Federal Bonding Program by Travelers which is not copied by some other U.S. program Bonds are issued right away to be in actuality the day that the candidate is planned to begin work; the securities are self-firing (no end printed material required), and the business does not sign any papers keeping in mind the end goal to get the security for nothing out of pocket The security protection issued ranges from $5,000 to $25,000 scope for a 6-month time span with no deductible sum (manager gets 100% protection scope); when this security scope lapses, proceeded with security scope can be obtained from TRAVELERS by the business if the laborer exhibited work trustworthiness under scope gave by The Federal Bonding Program Bond can be issued to the business when the candidate has a vocation offer with a date booked to begin work THE McLAUGHLIN COMPANY • 1725 DeSales Street NW • Suite 700 • Washington DC 20036 PHONE: 800.233.2258 or 202.293.5566

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