Federal%20Bonding%20Program

1
Federal Bonding Program

• A Unique Job Placement Tool
• Federal Bonding Program Coordinator, Florida

2
Background

• LBJ -War on Poverty
• Demonstration Project
• USDOL and McLaughlin Company, Washington DC
• Underwritten by Travelers Property Casualty
  Insurance Company
• Sponsored by USDOL

3
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

4
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

5
Who Does The Program Help?

• Ex-offenders
• Substance abusers
• Poor Credit Records
• Dishonorably Discharged
• Lacking Work History
• Anyone who needs a bond to get a Job

6
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

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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

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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

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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

10
Where to go to get it?

• Only available at One-Stop Centers
• How is the program promoted?
• One-Stop Staff and Applicants

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To Access Bonding Information On-Line?

• Florida Federal Bonding Program Information
• The requested information is there for your
  viewing or http//www.bonds4jobs.com

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Problems, Who Do You Call?

• Diane Vacca
• Florida Bonding Coordinator
• Office [phone]
• E-mail Diane.Vacca_at_deo.myflorida.com