Business Services Bond

A business services bond, can also be known as a fidelity bond. This can often make things confusing for some businesses to know which of the two bonds is best for them to purchase.

 

Whilst a fidelity bond is issued to protect against loss of money due to employees who steal from the company, a business services bond is issued to protect a company whose employees work off site and instead work in the environment of a client. As with a fidelity bond, a business services bond can be easily obtained and at a reasonable cost to the business requesting it.

 

It is largely those who are landscapers, locksmiths, painters, plumbers, pet-sitters and janitors amongst other such companies who tend to have a business services bond in place. The bond acts as protection against liability should an employee be responsible for damages, breakages or theft of any kind whilst working at the site of a client. These client sites include residential properties, schools, hospitals and hotels or office blocks.

 

Any bond such as this, is a legally written contract between the employer, employee and issuing company. The bonds act as an insurance policy to ensure that the business is covered against deceitful acts from its employees. The business services bond can also act as a guarantee. It ensures current and potential customers a firm has carried out necessary background checks of its employees prior to hiring them. This bond is also proof that sufficient guards are in place should something untoward occur.

 

 

 


Application for


Current or expiring quote we are looking to beat:


Name of previous surety company writing to the bond:


Section I: Bond Applied for

Type of Bond

Effective Date

Expiration Date


Type of Company

CORP

LLC

DBA

Partnership

Bond Amount


(Obligee)


Obligee Address


Section II: General Information

Applicant's Name

Spouse Name


SS#

Spouse SS#

Home Phone


Residence Address

City

State

Zip


Status of Residency

Own

Rent

At Current Address Since


Date of Birth

Spouse Date of Birth

Business License Number


Business Name


Business Phone

Business Fax

Business Email


Business Address

City

State

Zip


Date Business BEGAN Under Present Individual or Firm Name

Business Tax ID


Has any company refused to issue bonds for any purpose?

Yes

No

Do you have any liens, claims or judgements against you?

Yes

No


Has applicant ever failed in business?

Yes

No

Has applicant filed bankruptcy in the last 10 years?

Yes

No


If yes, Chapter 7?

Yes

No

Chapter 11?

Yes

No

Chapter 13?

Yes

No


Date Filed for Bankruptcy?


Date of Discharge?


If yes to any, please explain:


Section III: Additional Parties

Name

Spouse Name


SS#

Spouse SS#

Home Phone


Home Address

City

State

Zip


Personal Financials

(if more than one owner, each has to fill out this app)

Statement of assets and liabilities as of


Assets Liabilities
Cash in Bank Notes Payable to Banks
Cash on Hand Notes to Others(excl. of equipment)
Stocks and Bonds Accounts Payable
Accounts Receivable Federal and State Income Tax Due
Notes Receivable All Other Taxes
Inventory Accruals, Payrolls, Etc.
Cash Value Life Insurance    
Equipment Due on Equipment
Real Estate Due on Real Estate
Other Assets Other Liabilities
    Surplus and Undivided Profits
    Capital Stock(if a corporation)
       
Total Assets Total Liabilities

Net Worth


Name of Owners

Name and Title of Officers

% of Ownership


Are you an insurance agent?

Yes

No

Agent License #

Agent State

Completion of this form constitutes permission for Cal Society Insurance Services to obtain customer information which will be used to determine bonding eligibility. This information will be held in the strictest confidence.