A research study published by a university in Texas surveyed employer attitudes toward hiring exoffenders. Only 12% said that they were willing to hire these applicants. However, 51% said that they would hire ex-offenders if they were bonded. What the Federal Bonding Program Is: It is a federal tool, to help a job applicant, obtain employment, and keep it. The program issues Fidelity Bonds, and is sponsored by the U.S. Department of Labor. What a Fidelity Bond Is:
Fidelity Bond, through the federal bonding program, is a business insurance policy, that will protect the employer from theft, or property damage, from a dishonest employee. It is a "guarantee," that the new employer, will be an honest worker. The Fidelity Bonds issued under the Federal Bonding Program are insurance policies of the Travelers Casualty and Surety Company of America. The McLaughlin Company in Washington, DC, is the agent for Travelers in managing the program nation wide. This Bond Can Help You Get Employed: If you are an ex-offender (Felony, Misdemeanor), or you have a high risk factor, in your background, this bond is given freely, to the employer, as an incentive to hire you. The employer can then hire you, and utilize your skills, without taking a risk, of you being dishonest, while working there. What The Bond Insurance Covers: The bond insures the employer, in case of embezzlement, larceny, forgery, or theft. It does not cover job injuries, or poor workmanship.
How To Get Federally Bonded:You must receive a job offer first, and the employer has to have a date for you to start working for them. The Fidelity Bond insurance policy will then be issued to the employer, from The Mclaughlin Company, of Washington, DC, underwritten through the Travelers Insurance Company. While your local workforce representative, usually informs employers, there are still many that don't know of the federal bonding program. Make sure to inform the employer about this federal proram. Bond Coverage Amount: The bond covers $ 5,000, with no cost to you, or the employer, and no deductible. Employers can apply for larger bond amounts, if necessary.
Get More Information On Federal Bonding:
Job Seekers Call: 1-877-US2-JOBS Employers Call: 1-800-233-2258 ex.246 www.bonds4jobs.com
for the location of the workforce office/one-stop center nearest to your home.
Virginia Federal Bonding Program
There is currently no program in Virginia