What does applicant must be bondable mean

I know this because I have a criminal record and have been bonded. Hi William, Yes, you are right. Technically anyone can be bonded. The problem occurs when the insurance company declines to insure or charges a rate that is too high for the employer to pay. If you marked yes on the application the employer might feel like you were dishonest. Often it depends on the position. A Record Suspension can eliminate the risk. This is a wrong approach to determine if an applicant has or has not a criminal record.

The employer should already know that ALL insurance rates are based on the risk element. This is the same no matter what type of insurance is being sought, be it auto, home, life or bond-ability.

If the employer what to know if the applicant has a criminal record then they honest and forthright in their questioning and not be deceptive by asking the Are you bondable question.

The employer should not discriminate against anyone if the record is unrelated to the position being sought or a pardon has been granted. In many jurisdictions in Canada, this is the law. We need to raise awareness amongst employers that the stigma against people with records is usually not fair.

Are You Bondable? What does bondable mean on a job application? If you are bondable, it shows that up until now your behaviour has been respectable. There is no good reason to assume you may be a risk to create circumstances that require an insurer to pay out.

If you are wondering if you are bondable, you probably are. Losing your bondable status is a result of something drastic, here are the most common reasons:. The main thing being questioned is usually if you have a criminal record. When employers can access records of your past charges and convictions, it becomes the biggest obstacle most face when becoming bonded. Thankfully Canada allows for pardons services that will seal your record, starting the journey to become bondable by making your past a private affair.

Am I Bondable? Why Do Employers Care? A bondable person is someone who qualifies for a fidelity bond, which is issued on each employee working for you. Each bond has a maximum value and covers any assets that may be stolen by the person covered by the bond. A fidelity bond is a type of surety bond, which means it serves as a protection for its holder. Most premium amounts are based on your application and credit health, but there are some bond policies that are written freely. Being Insured.

Being bonded means to have obtained a surety bond, which is required of you by the government if you are getting licensed , by a construction project owner if you are a contractor , or by a court if you are a fiduciary or are appealing a ruling. A bonded employee is one for which the employer has taken out such a policy. If your job requires working with a lot of cash or valuables, your employer may ask that you be bonded. Bonding is a type of insurance for the employer.

It protects business owners from employee theft and also compensates the employer in cases of property loss caused by an employee. In the US, job applicants where they are responsible for handling large sums of money are frequently bonded.

This means an insurance policy is taken out on them after an investigation for the amount of the bond, usually into the millions of dollars.

To be bondable means that your future employer is ensured and protected against any loss that comes as a direct result of fraudulent, dishonest, or criminal activities of an employee.