What does it mean must be bondable?
able to be insured as trustworthy under a bond or surety agreement: All applicants must be bondable and pass a criminal background check.
What does bondable Call mean?
Bondable Actually means that the Contractor’s capital, character & capacity have been analyzed by a Surety Underwriter. Based upon that determination, the Surety Company will issue Surety Bonds guaranteeing the Contractors performance and/or payments within the resolved guidelines.
What does it mean when an employee is bonded?
A “bonded” employee is covered by a fidelity bond. These bonds are insurance policies designed to protect against the risk that an employee will intentionally steal from or damage the property of his employer or one of the employer’s clients. A bonded employee is one for which the employer has taken out such a policy.
Are you bondable meaning yes or no?
To be bondable means that your future employer is ensured and protected against any loss that comes as a direct result of fraudulent, dishonest, or criminal activities of an employee. If you’re bondable, it means that you are trustworthy and reliable.
What does bondable mean on a job application?
“Bondable” on a job application means a person is deemed worthy of bond or insurance coverage. The insurer provides coverage for an owner-operator or a company employee if the insurer finds that party worthy of coverage.
What kind of jobs require you to be bondable?
The quick answer is any position that deals with people, money or any kind of sensitive information. Here is a list of jobs that require you to be bondable: Any work in vulnerable sectors (Shelters, teachers, taxi drivers, nurses) Service jobs where you interact with the public
Who is a bondable person in a business?
A bondable person is someone who qualifies for a fidelity bond, which is issued on each employee working for you. Each bond has a maximum value and covers any assets that may be stolen by the person covered by the bond. A business owner can buy a bond for his entire business and/or employees and subcontractors who do work for that business.
How can I find out if someone is bondable?
The process requires several checks, namely background (criminal record) and credit checks. A company who is looking to hire in various departments will usually ask if the candidate is bondable. They may also ask, “Have you ever been bonded?” or “Can you be bonded?” Jobs include: