A janitorial services bond is an inexpensive and effective way to protect both your cleaning service AND your clients. Also referred to as a “business services bond” or “dishonesty bond”, this instrument is a third party fidelity bond which insures a cleaning service for the dishonest acts of its employees. Employee theft is a serious problem. The statistics are surprising. Recent statistics report that approximately seventy five percent of retail and labor employees steal from their employers at least once and that those losses account for seven percent of annual revenues. Is your business vulnerable to losses like these?
- XYZ Construction, Inc. assigned a work crew to perform a residential remodeling project. An employee stole jewelry and firearms worth in excess of $20,000.
- ACME Cleaning, Inc. sent its cleaning team in to a commercial bank. An member of the team removed counter checks which she later attempted to pass at a check cashing store.
- A home inspector performing an inspection departed an assignment with power tools valued at $5,000.
While proper background screening of potential employees is a good risk management, you may not be able to watch every employee at all times. One significant loss to a client can at best affect your company profit. Far worse, a client lawsuit against you and your firm for a dishonesty loss could bankrupt you and cause irreparable reputation damage. Given that employee theft is the cause of almost a quarter of business failures, a janitorial services bond can mean the difference between losing your livelihood are remaining a profitable business.
National fidelity bond leader, Surety One, Inc., specializes in underwriting fidelity risks for ALL types of business risks. No background checks are required, and we NEVER turn away an applicant. For an application click here, (solicitud también disponible in español aquí), call (800) 373-2804, or email us at Underwriting@SuretyOne.com. Janitorial services bonds are issued within one hour of order.
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