Who is required to have an Employment Counseling Service Surety Bond?
Employment Counseling Service Surety Bonds are required for individuals and organizations that are seeking a permit to commence business as an employment counseling service. Services provided by these organizations include career counseling, vocational guidance, aptitude testing and career management.
How do Employment Counseling Service Surety Bonds work?
These surety bonds ensure that all employees and contracted organizations receive their due payment, and guarantee that the employment counseling service adheres to all applicable laws and regulations. They also protect against potential acts of fraud, dishonesty, misstatement, misrepresentation, deceit, unlawful omissions and failure to satisfy agreed upon contracts at the hands of the counseling service.
Which states require Employment Counseling Service Surety Bonds?
Pacific Surety proudly offers Employment Agency Surety Bonds in the following states:
If you do not see your state listed, please contact us, and our knowledgeable underwriters will assist you.
What is the bond amount for Employment Counseling Service Surety Bonds?
Amounts for Employment Counseling Service Surety Bonds vary and are set by the local rules and statutes regulating the industry. Therefore, bond amounts and requirements will fluctuate from bond to bond. Please contact us with specific questions, and our knowledgeable underwriting staff will assist you.
How much does an Employment Counseling Service Surety Bond cost?
Pricing for Employment Counseling Service Surety Bonds varies, and your premium will be based on the following factors:
- State the bond is required in
- Amount of the bond
- Term length of the bond
- Personal credit for all owners with at least a 10% ownership stake in the business
Individuals with good credit can expect to pay 1%-5% of the bond amount. Qualified applicants could pay as little as $100 annually for a $10,000 Employment Counseling Service Surety Bond. To find out how much your bond is going to cost, please complete our online application for your free, no obligation price quote.
Can I get an Employment Counseling Service Surety Bond with bad credit?
Pacific Surety offers a wide-range of approvals, regardless of credit, for Employment Counseling Service Surety Bonds. With our strong surety relationships, we have the ability to approve 99% of applicants, regardless of how bad their credit is. Our knowledgeable underwriting staff will work with you to ensure you receive the lowest possible pricing for your bond. Applicants with substandard credit can expect to pay 5%-10% of the bond amount in premium. To see what rate you will qualify for, please complete our online application for your free, no obligation price quote.
How do I purchase an Employment Counseling Service Surety Bond?
The first step is to complete our quick online application for your free, no obligation bond quote. Submission takes only five minutes, and our underwriting staff will be in contact with you within a couple of hours with pricing. If you prefer to speak with our knowledgeable staff, please call 1-866-722-7873 and one of our Underwriters will assist you in applying for your bond.
After you receive approval, you must sign an indemnity agreement with the surety and provide payment for your bond premium. In most cases, we can issue bonds the same day we receive your signed documents and payment.
How are bond claims handled for Employment Counseling Service Surety Bonds?
Unlike insurance, which protects your business, Employment Counseling Service Surety Bonds protect your customers. They guarantee you will provide services to the public in a professional and lawful manner.
If you do not comply with the terms of the bond, your customer can file a claim with the surety company for relief. If the claim is valid, the surety will pay up to the penal sum of the bond to resolve the claim. You are then required to reimburse the surety for all monies paid out, including any attorney fees incurred by the surety in the defense of the claim.
Claims can be detrimental to your business. Not only do they cause financial harm, they make it very difficult, if not impossible, to get bonded again.