Washington State Bonding Program

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What is Fidelity Bonding?. It is a protection to ensure businesses against worker deceitfulness. Devotion Bonding and why is it required?. To restore trust in businesses who view ex-guilty parties and other at-danger occupation seekers as possibly deceitful laborers and in this manner deny them employmentTo give protection to at-danger employment seekers that other insurance agencies won't insureIt\'s an incentiv

Presentation Transcript

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Washington State Bonding Program Fidelity Bonding

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What is Fidelity Bonding? It is a protection to ensure managers against worker deceptive nature.

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Fidelity Bonding and why is it required? To reestablish trust in businesses who see ex-wrongdoers and other at-hazard work searchers as conceivably conniving laborers and consequently deny them work To give protection to at-hazard work searchers that other insurance agencies won't guarantee It's a motivating force to the business to enlist an at hazard work candidate It's an extraordinary apparatus for promoting candidates to bosses

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Fidelity Bonding and what it covers . Boss misfortune because of laborer untrustworthiness at work Any sort of taking: robbery, fabrication, theft, misappropriation

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Fidelity Bonding and what it doesn't cover . Risk because of poor workmanship, work wounds, work mischances, and so forth. Safeguard bonds or court bonds required in settling Bonding required for independent work

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Who is qualified for Bonding? Any at-hazard work candidate including: Ex-Offenders Recovering substance abusers (liquor & drugs) Welfare beneficiaries Individuals with poor record as a consumer Dishonorably released veterans

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Continued from past page. Monetarily distraught people who do not have a work history Anyone who can't land a position without being reinforced Anyone officially utilized yet needs holding keeping in mind the end goal to: (1) avoid being laid off or (2) secure an exchange or advancement

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Who is NOT qualified for Bonding? People bondable through business transporters Individuals who have defaulted on a past loyalty bond Individuals who are independently employed Individuals who are not of lawful working age (Eligibility age is 16 years of age in Washington State)

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How are bonds issued? Bonds are issued in additions of $ 5,000 up to $ 25,000 In many cases a $ 5,000 bond is adequate Bonds in the measure of $ 10,000 up to $ 25,000 must be legitimized Bond sums depend on what amount of potential misfortune a business could acquire

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How do Bonds work? Bonds can be issued when the representative has a contract date The scope for the bond is for a time of 6 months Bonds are self firing following 6 months There is no deductable and the business gets 100% protection scope The bond is at no cost to the business or worker No papers should be marked by the business or candidate After the bond terminates proceeded with scope can be acquired by the business reaching the Washington State Bonding Coordinator

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Bonding process Agency staff or Employer will: Screen for customer qualification Negotiate measure of holding Complete "Washington State Bonding Certification Form" and fax to State Bonding Coordinator State Bonding Coordinator will: Determine qualification Complete the frame and mail to Washington DC Send affirmation letter to office and manager Provide specialized help and preparing

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References The McLaughlin Company, The Federal Bonding Program, A US Department of Labor Initiative. Recovered 7/31/09 from http://www.bonds4jobs.com/

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Washington State Bonding Contact Information Washington State Bonding Coordinator Employment Security Department Offender Employment Services Attn.: Candee Bellamy PO Box 9046 Olympia, WA 98507-9046 cbellamy@esd.wa.gov www.wa.gov/esd/oes Phone: 360-902-9685 Toll Free: 800-339-3981 Fax: 360-902-9662

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Back up contact Attn.: Tami Wallace PO Box 9046 Olympia, WA 98507-9046 twallace@esd.wa.gov www.wa.gov/esd/oes Phone: 360-902-9695 Toll Free: 1-800-339-3981 Fax: 360-902-9662

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Wrap-Up Page Questions and Answers

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