What is an Oregon Employee Theft Bond?

Oregon employee theft bond

The misappropriation or outright stealing of money and resources is a serious contention. These accusations can result in many severe repercussions such as imprisonment, trials, and penalties.

Frequently, embezzlement arises out of several acts of theft from the same individual or groups of persons. Under Oregon law, a person found to have pilfered $10,000 or more in a single deal or a number of transactions, can be found culpable of aggravated theft in the first degree.

Thus, Oregon business owners and the buying public both need protection from this type of fraudulent activity — the Oregon Employee Theft Bond.

An Oregon Employee Theft Bond is a watertight warranty that service provider firms will be safeguarded from financial wreck due to employees stealing from them, from workers who use their employers’ possessions without permission, and from those who mishandle employers’ resources. The bond likewise shields companies from people who cheat on them with their product designs and trade secrets and commit other fraudulent activities that could result in the organization’s collapse.

These frequently take place when workers have access to considerable sums of money or valued property. The bond can likewise look after customers when their property is damaged due to workers’ slackness, imprecision, and sloppiness.

 

Why do you need an Oregon Employee Theft Bond?

You need the Oregon Employee Theft Bond because you want to keep an eye on your repute as a business owner while providing your clients your brand of service. Recognizing the fact that deceitful employees who embezzle your customers’ money or pilfer personal belongings can significantly demolish your business image, an employee theft bond is imperative. If you want to have a big slice of Oregon’s clientele, this bond will enhance your credibility as an entrepreneur and will make your service brand attractive to prospective patrons and probable business collaborators.

 

More details about the Oregon Employee Theft Bond

The main classifications of the Oregon Employee Theft Bond are:

Name Schedule Fidelity Bond –This type of theft bond demands certain evidence that an employee on the list given to an insurance company and covered by the bond stole from you.

Blanket Position Bond – In this category, all employees who work in a designated position(s) are included, and new employees are added automatically. Claims do not need irrefutable proof that someone on the list did the stealing.

Primary Commercial Blanket Bond – This covers each employee in a company.

 

What is the cost of an Oregon Employee Theft Bond?

The amount of the Oregon Employee Theft Bond premium payments will depend largely on your credit mark and business financial history. Premiums are not expensive; however, if you have a low credit score or a problematic financial record, you may be required to pay more.

 

How do I get an Oregon Employee Theft Bond?

Getting a bond is simple. However, be sure to contact only genuine professionals in the field of surety. Give Surety Bond Authority specialists a call now! With Surety Bond Authority taking care of your business affairs, you will have the answers you need and the solution to whatever concerns you have in protecting your business.

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