California Home Care Organization Employee Dishonesty License Bond
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What is a California Home Care Organization Employee Dishonesty License Bond?
Before a license is issued to a home care organization, the Home Care Services Bureau (HCSB) of the Department of Social Services requires the license applicant to submit this bond.
The purpose of this bond is to financially protect the clients of the home care organization against any dishonest or fraudulent acts by the employees. These include embezzlement, theft, conversion, or deceit.
This bond will ensure that if an employee of the licensed home care organization commits any of the said unlawful acts, the person who has been harmed will be duly compensated through a bond claim.
In addition, the home care organization is required to obey all the relevant provisions of the California Health and Safety Code as well as the rules and regulations of the Home Care Services Bureau (HCSB) of the Department of Social Services.
How much is a California Home Care Organization Employee Dishonesty License Bond?
The bond premium will start at $100 for those who have excellent credit scores. The bond amount is $10,000.
Got a low credit score? You can still apply for this bond! Find out how by giving us a call.
You can also check out what you need to pay by getting your FREE SURETY BOND QUOTE HERE!
How can I get a California Home Care Organization Employee Dishonesty License Bond?
Just simply follow this easy step-by-step guide:
APPLY FOR THIS BOND – We begin the bonding process with an application. You may send your application for this bond HERE!
UNDERWRITING – Once we have received your application, an underwriter will ask you to submit the following important requirements:
- Proof of your financial capability
- Your business’ history
- Your credit score
In order to avoid any delay, make sure that your requirements are complete prior to submitting them.
ISSUANCE – As soon as the underwriter has completed the necessary in-depth check, we will immediately issue the surety bond and send it to you!
How does a California Home Care Organization Employee Dishonesty License Bond work?
This bond has 3 parties:
Principal – home care organization
Obligee – State of California
Surety – the surety bond company or the surety bond provider
The Principal is also the party who is required to perform all pre-determined conditions stated in the bond. The Obligee is the party who’s requiring the bond and who will benefit from a bond claim. The role of the Surety is to assure the Obligee that the Principal is capable of fulfilling the obligations.
When a claim is made against the bond, the Surety will evaluate the claim by identifying the ordinance, regulation, and other laws that governs it.
The Surety will settle the claim if it’s valid. After the payment has been settled by the surety, the principal will be asked to reimburse the said payment.
Secure your license! Get bonded! APPLY HERE!