16 or more employees Bond - Business Services Bond 6c. ($100,000) in All States

Brief Summary

Business Services Bond 6c gives a business with 16 or more employees a $100,000 limit behind its crews. When a customer asks whether the people walking into their home or office are bonded, this is the answer. If one of your employees steals from that customer while working on their property, the bond protects the customer up to $100,000.

This is the $100,000 Business Services Bond for companies with 16 or more employees, listed as tier 6c. It is a voluntary third party fidelity bond, not a state license bond, so no statute sets the amount. Larger cleaning, janitorial, home care, moving and contractor companies carry it so customers are protected if an employee steals from them while on the job.

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How to Apply for a 16 or more employees Bond:

• Confirm your current employee count fits the 16 or more employees band.
• Ask the surety how it counts employees, including part time and seasonal staff.
• Have the legal business name and address exactly as they should appear on the bond.
• Check any customer contract for a required bond limit or specific bond wording.
• Complete the application and review the premium quoted for the $100,000 limit.
• Pay the premium, receive the bond, and keep a copy ready for customers who ask for proof.

Detailed Information About the All States 16 or more employees Bond:

Check your headcount first

This listing is one combination: a $100,000 bond limit for a business with 16 or more employees. Business services bonds are sold in employee bands of 6 or less, 7 to 15, and 16 or more. The District of Columbia Department of Insurance, Securities and Banking notes that bond amounts are often determined by the number of employees and the venue where the company will operate. This band has no upper limit on headcount, so it fits any business with 16 or more employees. If you have 15 or fewer, this tier does not describe your business. Ask the surety how it counts employees, for example whether part time or seasonal workers are included, before you apply.

What the bond does

A business services bond is a third party fidelity bond. The Surety and Fidelity Association of America describes fidelity bonds as protection against financial losses caused by employees' dishonest misconduct, and lists Employee Dishonesty Bond as another name for them. The business services version points that protection at your customers. DC DISB puts it plainly: janitorial service bonds protect your clients if one or more employees steal from your company or the property where they are working. On tier 6c, that protection runs up to $100,000.

A larger crew, a $100,000 limit

At 16 or more employees, more of your people are working on customer property on any given day. This tier gives each customer a $100,000 backstop if one of those employees steals. If a customer contract names a different limit, the contract controls what you need to carry, so read it before you buy.

It is not a license bond

No statute requires this bond and it is not filed with a state agency. Customers and contracts ask for it. If your city, county or state license for your trade calls for its own bond, that is a separate requirement. DC DISB advises checking with your licensing or permitting authority to find out.

Eligibility and Requirements for a All States 16 or more employees Bond:

• Bond limit of $100,000, listed as tier 6c.
• A business with 16 or more employees.
• Your business is the principal. Your customers are the people the bond protects.
• Protection tied to theft by your employees from a customer's property where they are working.
• A voluntary bond. It does not replace any license bond your city, county or state may require.

All States 16 or more employees Bond FAQs:

Official and Additional Resources for the All States 16 or more employees Bond: