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Washington State Bonding Program - PowerPoint PPT Presentation

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Washington State Bonding Program. Fidelity Bonding. What is Fidelity Bonding?. It is an insurance to protect employers against employee dishonesty. Fidelity Bonding and why is it needed?.

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What is fidelity bonding l.jpg
What is Fidelity Bonding?

It is an insurance to protect employers against employee dishonesty.

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Fidelity Bonding and why is it needed?

  • To restore confidence in employers who view ex-offenders and other at-risk job seekers as potentially untrustworthy workers and thereby deny them employment

  • To provide insurance for at-risk job seekers that other insurance companies will not insure

  • It’s an incentive to the employer to hire an at risk job applicant

  • It’s a unique tool for marketing applicants to employers

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Fidelity Bonding and what it does cover.

  • Employer loss due to worker dishonesty on the job

  • Any type of stealing: theft, forgery, larceny, embezzlement

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Fidelity Bonding and what it does NOT cover.

  • Liability due to poor workmanship, job injuries, work accidents, etc.

  • Bail bonds or court bonds needed in adjudication

  • Bonding needed for self-employment

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Who is eligible for Bonding?Any at-risk job applicant including:

  • Ex-Offenders

  • Recovering substance abusers (alcohol & drugs)

  • Welfare recipients

  • Individuals with poor credit history

  • Dishonorably discharged veterans

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Continued from previous page.

  • Economically disadvantaged persons who lack a work history

  • Anyone who cannot get a job without being bonded

  • Anyone already employed but needs bonding in order to:

    (1) prevent being laid off or (2) secure a transfer or promotion

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Who is NOT eligible for Bonding?

  • Individuals bondable through commercial carriers

  • Individuals who have defaulted on a previous fidelity bond

  • Individuals who are self-employed

  • Individuals who are not of legal working age (Eligibility age is 16 years old in Washington State)

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How are bonds issued?

  • Bonds are issued in increments of $ 5,000 up to $ 25,000

  • In most cases a $ 5,000 bond is sufficient

  • Bonds in the amount of $ 10,000 up to $ 25,000 have to be justified

  • Bond amounts are based on how much potential loss an employer could incur

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How do Bonds work?

  • Bonds can be issued as soon as the employee has a hire date

  • The coverage for the bond is for a period of 6 months

  • Bonds are self terminating after 6 months

  • There is no deductable and the employer gets 100% insurance coverage

  • The bond is at no cost to the employer or employee

  • No papers need to be signed by the employer or applicant

  • After the bond expires continued coverage can be purchased by the employer contacting the Washington State Bonding Coordinator

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Bonding process

Agency staff or Employer will:

  • Screen for client eligibility

  • Negotiate amount of bonding

  • Complete “Washington State Bonding Certification Form” and fax to State Bonding Coordinator

    State Bonding Coordinator will:

  • Determine eligibility

  • Complete the form and mail to Washington DC

  • Send confirmation letter to agency and employer

  • Provide technical assistance and training

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  • The McLaughlin Company, The Federal

    Bonding Program, A US Department

    of Labor Initiative. Retrieved 7/31/09

    from http://www.bonds4jobs.com/

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Washington State Bonding ContactInformation

Washington State Bonding Coordinator

Employment Security Department

Offender Employment Services

Attn.: Candee Bellamy

PO Box 9046

Olympia, WA 98507-9046

[email protected]


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

  • [email protected]

  • 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

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