The fidelity bonding service helps certain job applicants who have a hard time getting and keeping a job. TWC offers this free service to make companies feel more comfortable when hiring people who may face challenges. This bonding is like an insurance policy. It protects the company if the worker does something dishonest, like theft.
- The fidelity bond is free for six months. After six months, bonding becomes the companies’ responsibility.
- The coverage is usually for $5,000, but can be more, and there is no deductible to pay.
- There are no forms to fill out and no long processing time.
- The coverage can start almost right away.
Fidelity bonding services are available for:
- People who have been involved with the justice system, like those who have been arrested, on probation, or have a police record
- People with a history of poor credit
- Veterans who were dishonorably discharged
- People on public assistance
- People with a history of substance abuse
- Disadvantaged youth who don’t have a work history
- Anyone who was not approved for fidelity bonding through other bonding systems
Keep in mind that people who are self-employed are not covered by this bond. This bond only applies to specific employers and workers. These bonds do not give coverage for poor work skills, work injuries or accidents.
How to Request a Fidelity Bond
At any Workforce Solutions office, the job seeker or the employer can ask for bonding. If the job seeker is in one of the groups listed above, the bonding coverage starts right away after approval or on their first day of work once approved.
The employer will receive the bond by mail, and it will be valid for six months. After the six months, if the insurance company agrees, employers can buy a transfer bond for another six months. In time, the employee might become permanently bondable.