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The fidelity bonding service helps at-risk job applicants get and keep a job. TWC and the Workforce Development Boards offer free fidelity bonding services to reduce employers’ concerns about hiring at-risk job applicants who cannot be bonded through other sources. For this bonding, Union Insurance Group issues an insurance policy that protects the employer against employee acts of dishonesty such as larceny, embezzlement, and theft.
Applicants eligible for fidelity bonding services include:
A fidelity bond will not provide coverage for self-employed individuals looking for a performance bond, surety bond, or contract bond. Fidelity bonds cover only a specific employer-employee relationship, which is demonstrated by withholding income and social security taxes.
A fidelity bond does not provide coverage for poor workmanship, job injuries, or work accidents.
Either the job applicant or the prospective employer can request bonding through any Workforce Solutions office. If the applicant is eligible, bonding coverage is effective immediately following certification or on the applicant’s first day of work once certified.
The bond will be mailed to the employer and is issued for six months. After that, employers may purchase a transfer bond for an additional six months at the insurance company’s discretion. Eventually, the employee may become permanently bondable.