Understand the required obligation.
Businesses whose employees enter customer premises or handle customer property may use a business service bond to demonstrate financial protection against specified dishonest acts. Fidelity coverage varies by form.
Common uses
- Cleaning and janitorial services
- Home healthcare and service businesses
- Property management and maintenance operations
- Employee dishonesty protection
Information to prepare
- Business operations and employee count
- Services performed at client locations
- Hiring and background-check procedures
- Requested limit
- Prior dishonesty losses
Frequently asked questions
Is a business service bond required by law?
Often it is purchased voluntarily or required by a customer or contract, but requirements vary.
Does it cover every theft allegation?
No. Covered persons, property, proof requirements, exclusions, and limits are defined by the bond or policy.
Bond descriptions are general. Availability, underwriting, pricing, indemnity, collateral, form, and delivery vary. The application and issued bond control.