Bond Insurance
Bond insurance is designed to protect entities and consumers against a contracted party’s default on a job or an employee of a business’s mishandling of property and funds.
Business Service Bonds protect consumers’ (obligee’s) money, equipment and other belongings that are mishandled by your employees. It also benefits the business owner (principal) that may run into unexpected situations in which the surety (guarantor) would help the business fulfill the contract at hand. This coverage can give your business a competitive edge against competing businesses that don’t have this coverage.
Other examples are Real Estate lawyers that hold money in escrow and employers that offer 401K plans or other employee benefits. You may want to consider or be required to have a Fidelity Bond for protection from dishonest acts of a fiduciary.
Business Service Bonds protect consumers’ (obligee’s) money, equipment and other belongings that are mishandled by your employees. It also benefits the business owner (principal) that may run into unexpected situations in which the surety (guarantor) would help the business fulfill the contract at hand. This coverage can give your business a competitive edge against competing businesses that don’t have this coverage.
Other examples are Real Estate lawyers that hold money in escrow and employers that offer 401K plans or other employee benefits. You may want to consider or be required to have a Fidelity Bond for protection from dishonest acts of a fiduciary.