Washington state bonding program l.jpg
This presentation is the property of its rightful owner.
Sponsored Links
1 / 15

Washington State BondingProgram PowerPoint PPT Presentation


  • 152 Views
  • Updated On :
  • Presentation posted in: General

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

Download Presentation

Washington State BondingProgram

An Image/Link below is provided (as is) to download presentation

Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.


- - - - - - - - - - - - - - - - - - - - - - - - - - E N D - - - - - - - - - - - - - - - - - - - - - - - - - -

Presentation Transcript


Washington state bonding program l.jpg

Washington State BondingProgram

Fidelity Bonding


What is fidelity bonding l.jpg

What is Fidelity Bonding?

It is an insurance to protect employers against employee dishonesty.


Fidelity bonding and why is it needed l.jpg

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


Fidelity bonding and what it does cover l.jpg

Fidelity Bonding and what it does cover.

  • Employer loss due to worker dishonesty on the job

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


Fidelity bonding and what it does not cover l.jpg

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


Who is eligible for bonding any at risk job applicant including l.jpg

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


Continued from previous page l.jpg

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


Who is not eligible for bonding l.jpg

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)


How are bonds issued l.jpg

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


How do bonds work l.jpg

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


Bonding process l.jpg

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


References l.jpg

References

  • The McLaughlin Company, The Federal

    Bonding Program, A US Department

    of Labor Initiative. Retrieved 7/31/09

    from http://www.bonds4jobs.com/


Washington state bonding contact information l.jpg

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]

www.wa.gov/esd/oes

Phone: 360-902-9685

Toll Free: 800-339-3981

Fax: 360-902-9662


Back up contact l.jpg

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


Wrap up page l.jpg

Wrap-Up Page

Questions and Answers


  • Login