Transcript Federal Bonding Program

Federal Bonding Program
A Unique Job Placement Tool
Federal Bonding Program Coordinator, Florida
Background
• LBJ -War on Poverty
• Demonstration Project
• USDOL and McLaughlin Company,
Washington DC
• Underwritten by Travelers Property
Casualty Insurance Company
• Sponsored by USDOL
What is it?
• Unique tool to help
an applicant get or
keep job
• Fidelity Bond is an
Insurance Policy
• Protects against loss
of money or property
• It is free
It is Not/Does Not Cover
• Liability due to poor
Workmanship
• Job Injuries
• Work Accidents
• Bail Bond
• Court Bond
• Contract Bond
• Performance or
License Bond
Who Does The Program Help?
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•
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Ex-offenders
Substance abusers
Poor Credit Records
Dishonorably
Discharged
• Lacking Work
History
• Anyone who needs a
bond to get a Job
Why is the FB Program
Needed?
• Employers Fidelity
Bonds will not cover
anyone who has
committed a
dishonest or
fraudulent act
• Not Bondable (too
risky to cover)
• Only answer is FBP
• Eliminates Barriers
Eligibility
• Anyone who cannot get a Job without
bonding
• Past acts of Dishonesty or Fraud
• Meets the minimum legal working age
• Anyone told they are not bondable
• Anyone who needs a bond to keep a job
or to get a promotion
How is it issued?
• Request for issuance, applicant or employer
• A Job offer and start date, bond is good for 6
months, can be renewed, then bondable for life
• $5,000 coverage per applicant, larger bonds are
possible
• No papers for the Employer/applicant to sign
Has it had success?
• Over 42,000 applicants have been helped
• 99% have proven to be honest employees
• Greater variety of jobs and higher wages
Employers thoughts on Bonding?
* 12% willing to hire without a Bond
* 51% willing to hire with a Bond
Where to go to get it?
Only available at One-Stop
Centers
How is the program promoted?
One-Stop Staff and Applicants
To Access Bonding
Information On-Line?
• Florida Federal Bonding
Program Information
• The requested information
is there for your viewing; or
http://www.bonds4jobs.com
Problems, Who Do You Call?
Diane Vacca
Florida Bonding Coordinator
Office: (850) 245-7451
E-mail:
[email protected]