Through the Federal Bonding Program, the U.S. Department of Labor provides fidelity bonds to employers to help remove the risks of hiring individuals whose backgrounds pose significant barriers to securing or retaining employment. Fidelity bonding is insurance that indemnifies employers for loss of money or property sustained through the dishonest acts of their employees (e.g., theft, forgery, larceny, and embezzlement) with no deductible amount to become the employer's liability (100% coverage). The Federal Bonding Program has issued 70,000 bonds since its inception, providing employment for 70,000 individuals. The Federal Bonding Program has a 99% success rate, with only 1% of claims processed.
The bonds cover the first six months of employment at no cost to the job applicant or the employer. For more information, please visit www.bonds4jobs.com.