How does a company become bonded?
Wendy, The purchase of a bond by a company can be for several different reasons. Judging by your company I’m guessing you are looking for a Bond to protect against dishonest acts of your employees. Those acts could be the theft of Money or Valuable property from your firm or your clients. The process of securing a Dishonesty Bond for your business would involve the following: – contact an agent with experience in bonding and multiple markets for those bonds – complete one or more bond applications – provide additional information requested with the applications They may want – resumes of the principals – financials for the business – brochures – sample contracts The limit will usually determine how in depth they get. Also different bonding companies may ask for different information. Three of the many markets we use are: – CNA surety – Hartford – Liberty Mutual I noted the web address for CNA Surety below. They have copies of their applications on line that you can review.
