 |
What is a bonding warehouse?In: Insurance |
Being Bonded
A bond is a amount of money, put up by a bonding company, that gurantees that you are of good character and not a criminal. The bonding company will do a VERY deep background check on you, to establish that you are worthy of being "Bonded".
In practical terms, an employer who may want to hire you for a position that involves trust and or handling large amounts of money, will hire a Bonding company to investigate you, and once you are Bonded, that Bonding company gurantees the employer that if you DO steal, they will pay the employer back for your theft amount. It is a type of insurance.
Obviously, any one with a criminal record is never going to be Bonded.
|
|
|
First answer by Buntingj. Last edit by Buntingj. Contributor trust: 667 [recommend contributor]. Question popularity: 133 [recommend question]
|
Research your answer: |
Can you answer other questions about insurance?
|
|
Answers.com > Wiki Answers > Categories > Business and Finance > Insurance > What is a bonding warehouse?
Our contributors said this page should be displayed for the questions below. (Where do these come from ) |
| If any of these are not a genuine rephrasing of the question, please help out and edit these alternates. |
