Nothing is worth more than the trust of your customers. When it comes to your business, you might have to prove your reliability before you have a chance to earn it. Bonds serve as a guarantee that your business and the people who work for you will serve your customers in an honest, dependable, and legal manner. Bonds reinforce your good name and give customers the confidence to hire you.
Fidelity Bonds
Business Service Bonds
Just as the name implies, a fidelity bond is designed to guarantee the honesty of the people who work for you. If a newly hired individual steals valuables from a job site or a disgruntled employee vandalizes a client’s property in retaliation against your business, your customers will expect compensation. A fidelity bond assures your customers that you stand behind your employees and guarantee their integrity in the workplace. Should fraudulent behavior occur at any time, the fidelity bond provides a layer of protection for your business and its assets.
Typical for business involving: Janitorial Services, Home Health Care Services, Home Repairs Contractors, House Watch, Pool Cleaning, and Landscape Services.
ERISA Bonds
Employee Retirement Income Security Act was enacted in 1974. ERISA requires that every fiduciary of an employee benefit plan and every person who handles plan funds be bonded. The ERISA bond is required to protect the participants and beneficiaries from dishonest acts of the fiduciary who handles the plan assets.
The bond is written in the name of the employee benefit plan. The bond limit is at least 10% of the amount of the plan assets with a maximum amount of $500,000 for the bond amount in most cases.
Notary Bonds
The State of Wisconsin requires a $500 Notary Bond for the 4-year commission of a Notary. Notary Bond protects the general public of Wisconsin against any financial loss due to improper conduct by a notary.
Errors & Omissions coverage may be purchased for the notary for an additional premium. This protects notary in the event a financial loss due to an error or omission made by the notary.
WI Concealed Carry Criminal Defense Reimbursement Bond
Give yourself the financial peace of mind that comes with a West Bend Concealed Carry Criminal Defense Reimbursement Bond. As a permit holder of a legally possessed weapon, the bond provides for the reasonable legal fees, expenses, and costs of defense up to the maximum bond limit of $50,000, $100,000, or $250,000.
The bond provides reimbursement of reasonable legal fees, expenses, and costs of defense up to the bond limit after declaration from the prosecuting attorney that no criminal charges will be filed, a dismissal of all filed criminal charges, or acquittal of the “permit holder” following a trial and verdict is upheld on appeal.
This bond is only available for purchase by residents of the states in which West Bend Mutual Insurance Company is currently licensed to write business. Coverage applies to an “act of self-defense” by the “permit holder” that occurs in any state (within the United States and its territories only) where the “permit holder” is legally allowed to carry a concealed weapon.
Surety Bonds
Surety bonds are not insurance, but rather an independent product that acts as a guarantee of payment if you are liable for a client’s loss. These types of bonds act as a line of credit, assuring your customers that claims against your business will be paid. Although the bond issuer ultimately guarantees the payment, it is still your responsibility as a business owner to satisfy the agreements between your customers. If you fail to uphold your contractual agreements, you must pay all of the claims and fees associated with the breach. Any guaranteed claims you fail to pay become the responsibility of the bond issuer, who may liquidate your corporate and individual assets to satisfy the debt.
When you apply for a surety bond, your business and its assets will be spotlighted and evaluated to determine your ability to fulfill your agreements. Whether you are a locksmith working as a sole proprietor or a builder bidding on a major project, we here at Glass Insurance Center can help you find the bond support you need. We help our clients with a wide range of surety bond products, including:
Fiduciary and Probate Bonds
Managing an estate after a loss is a huge responsibility. The rightful heirs of the estate, and possibly the court, will ask for the assurance that you will carry out your duties in a manner that is consistent with a deceased’s will. This guarantee can be made through an executor’s bond, or otherwise referred to as a probate bond. While this duty is often carried out by local attorneys, it can also the responsibility of individuals that are referred to as a guardian, conservator, administrator, executor, or personal representative.
Whether you are an attorney or individual, Glass Insurance Associates can provide you with a probate bond to satisfy the needs of all parties.
Bid, Performance, and Payment Bonds
A bid, performance, or payment bond assures the obligee who hires your business that you will deliver your services in agreement with the terms listed in your contract. Perhaps that means finishing a project by a particular deadline or assuring customers that you are legally compliant and paying your vendors or subcontractors within a reasonable period of time.
Public Official Bonds
Public officials carry important responsibilities to the constituents and governments they serve. Some public officials, such as tax collectors, are elected to office. Others, such as judges, are appointed. Both types of publicly-held offices – elected and appointed – may require a bond. Public official bonds help guarantee a person will serve in office according to the legal guidelines that define the position. The issuance of a public official bond may be dependent upon the reputation and tenure of the individual serving in office.
Lake Geneva Commercial Bonds
Many people need bonds, and where you choose to get bonded matters. Let Glass Insurance Center serve your bonding needs. You know you make good on your promises. Let us put in a good word for you. Call us today for more information. We look forward to serving you soon.
