In 1966, the U.S. Department of Labor created the Federal Bonding
Program as an incentive for employers to hire ex-offenders and guaranty
the job honesty of at-risk job applicants.A Federal Bonding Letter is basically an insurance policy that will protect the employer from any type of stealing: theft, forgery, larceny, and embezzlement caused by the employee. The use of bonding insurance
is free for employers who apply. Some of our candidates are ex-offenders. As a result, we offer access to Federal Bonding Letters: The bond insurance issued ranges from $5,000 to $25,000 coverage for a 6-month period with no deductible amount (employer gets 100% insurance coverage); when this bond coverage expires at the end of the 6 months, the employer can purchase a transfer bond for an extension. The process for bonding insurance with the ex-offender is simple and requires only three steps to be utilized.
Having bonding insurance for the ex-offender is most often the one confirmation for an employer that you will not become a liable for their other insurance and greatly aids, along with the Work Opportunity Tax Credit in your gaining employability. For more information on the federal Bonding Program, click here. |
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