Federal Bonding Program

A Unique Job Placement Tool

Federal Bonding Program Coordinator, Florida

Background

• LBJ -War on Poverty

• Demonstration Project

• USDOL and McLaughlin Company, Washington DC

• Underwritten by Travelers Property Casualty Insurance Company

• Sponsored by USDOL

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

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

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

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

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

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

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

Where to go to get it?Only available at One-Stop

Centers

How is the program promoted? One-Stop Staff and Applicants

To Access Bonding Information On-Line?

• Florida Federal Bonding Program Information

• The requested information is there for your viewing; or http://www.bonds4jobs.com

Problems, Who Do You Call?

Diane Vacca

Florida Bonding Coordinator

Office: (850) 245-7451

E-mail: Diane.Vacca@deo.myflorida.com