7 to 15 employees Bond - Business Services Bond 8b. ($200,000) in All States

Brief Summary

Business Services Bond 8b pairs a $200,000 limit with the 7 to 15 employee band. It answers the customer who asks whether your crew is bonded with a real number. If one of your employees steals from a customer's property while on the job, the bond protects that customer up to $200,000.

This is the $200,000 Business Services Bond for companies with 7 to 15 employees, listed as tier 8b. It is a voluntary third party fidelity bond, not a state license bond, so no statute sets the amount. Cleaning, janitorial, home care, pet sitting, moving and contractor businesses buy it so customers are protected if an employee steals from them while working at their home or business.

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How to Apply for a 7 to 15 employees Bond:

• Confirm your current employee count fits the 7 to 15 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 $200,000 limit.
• Pay the premium, receive the bond, and keep a copy ready for customers who ask for proof.

Detailed Information About the All States 7 to 15 employees Bond:

Check your headcount first

This listing is one combination: a $200,000 bond limit for a business with 7 to 15 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. If you have fewer than 7 or more than 15 employees, 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 8b, that protection runs up to $200,000.

Why a $200,000 limit

With 7 to 15 people on payroll, you likely have more than one employee in customer homes or offices on a given day, and larger customers may put a bond limit in writing. If a contract names a required limit, match the bond to that number and read the contract wording before you buy. A $200,000 limit leaves room when a customer asks for more than a basic amount.

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 7 to 15 employees Bond:

• Bond limit of $200,000, listed as tier 8b.
• A business with 7 to 15 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 7 to 15 employees Bond FAQs:

Official and Additional Resources for the All States 7 to 15 employees Bond: