Bond insurance guarantees repayment on a bond. This extra security may attract new investors, due to the decreased risk.
There are several different types of bonds that cover a variety of things. Contractors need license and permit bonds, bid bonds that turn into performance and payment bonds. There are also employee dishonesty bonds that protect protects your business from dishonest acts by your employees. This includes protection against fraud, embezzlement, forging checks, stealing money or merchandise, and so forth.
An Employee Dishonesty Bond does not cover against your employees stealing from your customers. There is a bond for that it is called a janitorial bond.
When it comes to bond insurance benefits, there’s no denying the significant amount of confidence and security that it can instill in both parties.
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