Business Services Bond 5b. ($50,000) - 7 to 15 employees — required surety bond in Federal. Apply online in minutes.
A Business Services Bond protects your clients from financial losses resulting from theft or fraud committed by your employees while on their premises. This particular classification covers businesses with a staff size of 7 to 15 employees seeking a specific tier of coverage. It serves as a guarantee that your customers will be compensated if an employee steals their property.
Businesses that regularly send employees into customers' homes or private offices typically need this bond to secure contracts. This commonly includes cleaning companies, pet sitters, home health aides, and contractors who maintain a workforce of 7 to 15 staff members.
Clients frequently require this bond as a prerequisite for hiring a company to ensure their valuable personal or business assets are protected. It demonstrates that the business is reputable and financially responsible for the actions of its staff. Although exact requirements vary by contract, having this bond helps business owners win competitive bids and build customer trust.
To get started, simply click the Apply Now button to access our secure online application. The form takes about 5 minutes to complete and allows us to quickly process your request. Once approved and purchased, your bond will be delivered directly to you by email.
Premiums vary based on the applicant's business details, credit, and other underwriting factors. To get an exact figure for your company, apply online or contact Noah Insurance Agency at 814-718-0060.
Requirements vary significantly by industry, municipality, and specific contract. While often required by private clients rather than a government entity, you should always verify any legal mandates with your licensing agency or obligee.
If an employee is found guilty of theft from a client, the bond guarantees compensation to the client up to the bond's limit. The business owner is then legally responsible for reimbursing the surety company for any valid claims paid out.
Approval times vary depending on individual application details, but our process is designed to be as fast as possible. Apply online for the most efficient processing, and once finalized, your bond will be emailed directly to you.
Send us a note or call 814-718-0060 — a licensed agent will confirm the bond amount and requirements for you.
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