Business Services Bonds

An Old Republic Business Services Bond will provide you with protection against financial liability for the loss of your customer’s money, securities, and personal property caused by dishonest acts of your employees while on your customer’s premises upon conviction.*

Even the most trusted employees can cause a loss. Employees have access to a customers' valuables while performing duties on their premises. Jewelry, personal property, equipment, supplies, and other property can be a temptation. Dishonest acts of employees can create a liability for the employer.

Issue a Business Services Bond in Minutes!

Old Republic Surety company offers Business Services Bonds that are freely written in our BONDSTARTM platform, and can be instantly issued. We also offer a three-year term at a discounted rate.

Typical Business Services Bond Scenarios

  1. You have a cleaning service. An employee, while working in an office, notices some valuables in a drawer. After finishing work, the employee puts the valuables in his/her pocket and leaves.
  2. You are a subcontractor. On the job site, your employee notices some electronic equipment he could use. When no one is looking, he puts it in a box and takes it out to his truck.
  3. You own a moving van service. While unpacking a job, an employee notices something they'd like to keep for themselves and takes it. The homeowner would hold you and your company liable for the theft by your employee.

Having a Business Services Bond is a Competitive Advantage

Beyond protection from liability for employee dishonesty, having a Business Services Bond can give a company an important advantage over their competitors. Being able to say, “Our people are bonded for honesty while on your job”, could make a difference in whether a job is secured. Many firms utilize the Business Services Bond as a marketing tool. Having this bond is a competitive advantage. If your company has a Business Services Bond, be sure to mention that in advertisements and proposals.


* In order to protect you and your employees against unjustifiable allegations or charges of dishonesty, the employee must be convicted (**) of the alleged dishonesty before coverage would apply.

** North Carolina only: The word "conviction/convicted" is replaced with "indictment/indicted."

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Resources

FAQ: Commercial Bonds
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FAQ: Commercial Bonds

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BONDSTAR FAQ
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BONDSTAR FAQ

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