What is Utah Janitorial Service Bond?
A Janitorial Service business comes with significant drawbacks, like employee theft.
It can happen even if you are extra vigilant, and even if the people you employ possess a clean track record. This Surety Bond will protect your business from the outcome of such a problem.
What is the purpose of a Utah Janitorial Service Bond?
A Janitorial Service Bond is a type of Business Service Bond that aims to protect the Janitorial Service Company’s clients in case one of its employees commits misconduct such as stealing while inside the client’s home or business establishment.
While this bond remains optional, it is also often expected by many clients, and preferred by business owners because it is a modest business investment and easy to procure!
What is the Janitorial Service bond amount?
The amount actually varies. It will depend on the number of employees the Janitorial Service Company has, or it can also be based on the owner’s bond amount preference.
You can secure a $5,000 surety bond for your company that has 5 or fewer employees. With the bond above amount, you can pay as little as $100 for the annual premium.
You can also opt for a higher bond amount for the same number of employees if you so wish.
What are the Utah Janitorial Service Bond conditions?
- There are 3 entities involved in this bond:
Obligee – the Janitorial Service Company’s client
Principal – the Janitorial Service Company
Surety – the surety bond company that will issue the bond
- The claim will be settled by the bond’s conditions, including all the other applicable industry rules.
- If one of the Janitorial Service Company’s employees is accused of theft and has been found guilty of such based on some substantial pieces of evidence, the obligee may post a claim on the surety bond.
- The principal purchases the surety bond to protect the obligee in case any dishonest act happens.
How do I secure this Surety Bond?
Securing this bond is easy, just follow the steps below:
First Step: Apply for the bond
You need to submit a bond application to us.
Second Step: Underwriting
We will ask you for a couple of valuable information required for the bond. This will include your business performance history, your credit score, and your financial history. An underwriter will carefully evaluate all of those.
Third Step: Bond execution
Once the underwriter is done with the prequalification process, we will immediately issue the bond and send it to you.
Get bonded today. Call us!