What is the South Dakota Employee Theft Bond?
The South Dakota Employee Theft Bond is a solid and tangible assurance of protection for your business from huge financial losses due to employees stealing from you and your clients. It is likewise a good defense against workers who use your possessions without permission, and against those who mishandle your resources. It is also a shield from employees who rip you off of your product designs, sell/offer trade secrets to competitors and commit other fraudulent activities that could result in your business firm’s collapse.
Why do you need the South Dakota Employee Theft Bond?
The South Dakota Employee Theft bond is essential so that you can safeguard your reputation as a business owner as you provide your clients with your brand of service. Since devious workers who misappropriate your clients’ money or pilfer personal belongings can substantially demolish your business image, this bond is your safety net.
More details about the South Dakota Employee Theft Bond
There are three categories of the South Dakota Employee Theft Bond that you can choose from:
Name Schedule Fidelity Bond – An inventory of workers that you give to your selected bonding company. This catalog is updated whenever there are changes to your workforce. This type of bond necessitates incontestable substantiation that an employee found on the inventory truly stole from you
Blanket Position Bond – A bond which offers overall safeguards on a particular position and not on a specific employee. With this type of bond, all employees who work in that nominated position are covered. Claims in this kind of bonding do not demand absolute evidence that a particular person perpetrated the theft.
Primary Commercial Blanket Bond – This bond is very similar to the blanket position bond, but it covers every worker in the company. In this bond, the number of people who committed the theft is immaterial; you are still entitled to a claim for the same amount.
What is the cost of a South Dakota Employee Theft Bond?
The South Dakota Employee Theft Bond amount varies while premium amounts 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 the South Dakota Employee Theft Bond?
Getting a South Dakota Employee Theft Bond is simple. Contact authentic surety bond practitioners to avoid having your project or business launch stalled. Choose also one who can provide you fast and efficient bonds.