Each type of fidelity bond is going to have its own set of fidelity bond requirements. The best course of action is to work with a fidelity bond company that understands what you are dealing with.
It is important that all fidelity bond requirements are met otherwise that could lead to expensive court cases and even the loss of ability to operate as a business.
When Jurisco works with a client they make sure their fidelity bond mandates are understood to prevent any negative consequence or delay.
Which Type Of Fidelity Bond Do You Need?
A fidelity bond may be required for an administrator of an estate, person serving as a custodian of a veteran, and for a company handling the sale of property.
Basically, a fidelity bond is a type of protection that helps cover both individuals and companies against a loss due to dishonest acts and mishandling of funds. The employee fidelity bond is an example of this protection as it shields businesses from harm caused by an employee.
Any questions about bonds and which fidelity bond requirements pertain to your case may be answered by the Jurisco staff.
State Fidelity Bond Requirements
Fidelity bond requirements are determined by each state and local ordinance. Sometimes a court can call for additional mandates for an individual or business to meet.
More often than not the bond requirements stem from the desire to protect parties involved in business transactions and court cases.
Protecting individuals who are being served by an administrator, for instance, is very important for the courts. If the funds of an estate are misused the administrator can be held responsible and the estate can find restitution through the bond.
A Nationwide Fidelity Bond Provider
Jurisco offers nationwide fidelity bonds meaning we understand what clients are dealing with in their respected states.
Working with a surety bond company that is as knowledgeable as Jurisco results in fast securement of a fidelity bond. Rest easy knowing all your fidelity bond requirements are being met by a well-trained staff of bond professionals.