What does it mean to be bondable?

What does it mean to be bondable?

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 it mean when an application asks Are you bondable?

What does bondable mean on a job application? Bondable (as it relates to employment) means one’s ability to be insured by the hiring company, so that in the event of theft or loss by the employee the company is insured for the value of the loss.

What does being bonded mean on a job application?

If your job requires working with a lot of cash or valuables, your employer may ask that you be bonded. Bonding is a type of insurance for the employer. It protects business owners from employee theft and also compensates the employer in cases of property loss caused by an employee.

How do I become bondable?

How Do I Get Bonded?

1. Step 1: Do Some Research. What is a Surety Bond?
2. Step 2: Contact a Reputable Bond Specialist.
3. Step 3: Receive and Submit Your Bond.
4. Step 4: Keep up with Required Changes to Your Bond.

What does not bondable mean?

No bond or a no bond hold means that the person cannot currently bond out of jail. However this does not mean forever. Certain crimes such as a non-bondable first-degree… More. Helpful Unhelpful.

What is required to be bondable?

When asked if you’re bondable on your application, it simply means: Is it likely the bonding company will look at your background and see you as a trustworthy employee? Each insurer has its own requirements related to that, but in general, you should have a clean criminal record.

What does bondable mean in jail?

Once a person is in police custody and is charged with an alleged offense, he or she may be able to get out of jail by posting bail or obtaining a bond.

How do you become bondable?

The good news is that by following a few basic steps, most people quickly realize that getting bonded can be a painless process.

1. Step 1: Do Some Research. What is a Surety Bond?
2. Step 2: Contact a Reputable Bond Specialist.
3. Step 3: Receive and Submit Your Bond.
4. Step 4: Keep up with Required Changes to Your Bond.

Are you eligible for bonding if required?

All individuals who have, in the past, committed a fraudulent or dishonest act, are eligible for bonding services. These persons include ex-offenders and ex-addicts, as well as people who have poor personal credit, poor persons who lack a work history, and individuals who were dishonorably discharged from the military.

Who gets bonded?

Being bonded means that a bonding company has secured money that is available to the consumer in the event they file a claim against the company. The secured money is in the control of the state, a bond, and not under the control of the company.

What is to bond with someone?

It is the process of nurturing social connection. Bonding typically refers to the process of attachment that develops between romantic or platonic partners, close friends, or parents and children. This bond is characterised by emotions such as affection and trust. Any two people who spend time together may form a bond.

What are the requirements for being bonded?

Requirements. Requirements for fidelity bonding vary depending on the employee’s position. A minimum requirement is usually a criminal background check, involving both criminal and driving records. Major felony convictions usually disqualify a person from bonding, but this may depend on the crime.

What does bonded mean in finance?

Bond, in finance, a loan contract issued by local, state, or national governments and by private corporations specifying an obligation to return borrowed funds.

What is being bonded for a job?

Getting employees bonded for a job is a way for employers to protect themselves against losses from misuse or theft of funds and for businesses to assure their customers that contracts will be fulfilled properly. It is similar to an insurance policy, in that a certain amount of money is paid for a required amount of coverage.