A federal program sponsored by the U.S. Department of Labor that provides fidelity bonds to people who are not eligible for commercial bonding, at no cost to the employers or employees. The bonds protect employers from loss of money and property due to employee dishonesty, but do not cover liability due to poor workmanship, job injuries or work accidents. The purpose of the program is to provide an incentive for companies to hire job applicants who are ex-offenders or have other "risk" factors in their personal background. Individuals who are not bondable can ultimately become commercially bondable by demonstrating job honesty during the six months of bond coverage under the Federal Bonding Program.
No programs.