What is the Federal Bonding Program?
The Federal Bonding Program was created as an incentive to employers to hire "at-risk," hard-to-place job seekers and may provide an employer a business insurance policy that protects an employer against loss of money or property due to employee dishonesty. The bond is good for six months in the amount of $5,000 at no cost to the business or the employee. All jobs are bondable in private and public sectors, full and part-time positions, as well as jobs secured through temporary agencies. The bond goes into effect the first day of the job applicant’s employment and will terminate after six months. After the six months, continued coverage can be purchased under the program’s bond.
How does the Federal Bonding Program work?
Job seekers need to let potential employers know they may receive a bond if they hire them. To request a Federal Bond, the employer must call the State Bonding Coordinator on the new employee's start date. A simple 10-minute telephone interview takes place. The Bond is issued immediately. A confirmation letter is then sent to the employer. The Union Insurance Group will mail the actual bond certificate to the employer within two weeks.
Federal Bonding Contact Information:
Auxiliary aids and services are available upon request to individuals with disabilities.
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