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Federal%20Bonding%20Program

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Employers Fidelity Bonds will not cover anyone who has committed a dishonest or fraudulent act ... maintains a copy of FIDELITY BOND CERTIFICATION FORM for 3 ... – PowerPoint PPT presentation

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Title: Federal%20Bonding%20Program


1
Federal Bonding Program
  • A Unique Job Placement Tool
  • Federal Bonding Program Coordinator, Florida

2
Background
  • LBJ -War on Poverty
  • Demonstration Project
  • USDOL and McLaughlin Company, Washington DC
  • Underwritten by Travelers Property Casualty
    Insurance Company
  • Sponsored by USDOL

3
What is it?
  • Unique tool to help an applicant get or keep job
  • Fidelity Bond is an Insurance Policy
  • Protects against loss of money or property
  • It is free

4
It is Not/Does Not Cover
  • Liability due to poor Workmanship
  • Job Injuries
  • Work Accidents
  • Bail Bond
  • Court Bond
  • Contract Bond
  • Performance or License Bond

5
Who Does The Program Help?
  • Ex-offenders
  • Substance abusers
  • Poor Credit Records
  • Dishonorably Discharged
  • Lacking Work History
  • Anyone who needs a bond to get a Job

6
Why is the FB Program Needed?
  • Employers Fidelity Bonds will not cover anyone
    who has committed a dishonest or fraudulent act
  • Not Bondable (too risky to cover)
  • Only answer is FBP
  • Eliminates Barriers

7
Eligibility
  • Anyone who cannot get a Job without bonding
  • Past acts of Dishonesty or Fraud
  • Meets the minimum legal working age
  • Anyone told they are not bondable
  • Anyone who needs a bond to keep a job or to get a
    promotion

8
How is it issued?
  • Request for issuance, applicant or employer
  • A Job offer and start date, bond is good for 6
    months, can be renewed, then bondable for life
  • 5,000 coverage per applicant, larger bonds are
    possible
  • No papers for the Employer/applicant to sign

9
Has it had success?
  • Over 42,000 applicants have been helped
  • 99 have proven to be honest employees
  • Greater variety of jobs and higher wages
  • Employers thoughts on Bonding?
  • 12 willing to hire without a Bond
  • 51 willing to hire with a Bond

10
Where to go to get it?
  • Only available at One-Stop Centers
  • How is the program promoted?
  • One-Stop Staff and Applicants

11
To Access Bonding Information On-Line?
  • Florida Federal Bonding Program Information
  • The requested information is there for your
    viewing or http//www.bonds4jobs.com

12
Problems, Who Do You Call?
  • Diane Vacca
  • Florida Bonding Coordinator
  • Office (850) 245-7451
  • E-mail Diane.Vacca_at_deo.myflorida.com
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