What is a Wyoming Janitorial Service Bond?
Like all other businesses, a Janitorial Service business comes with major drawbacks such as employee theft. It can happen even if you are extra vigilant, and even if the people you employ possess a clean track record.
A Janitorial Service Bond will protect your business from the outcome of such a problem.
A Wyoming 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 is still optional, many clients anticipate it, and business owners prefer it because it is a low-cost business investment that is simple to obtain!
What is the Janitorial Service Bond amount?
It is different for each individual. The bond amount will be determined by the number of personnel employed by the Janitorial Service Company, or by the bond amount preferred by the owner.
If your company has 5 or less employees, you can get a $5,000 surety bond. With the aforementioned bond amount, the annual premium can be as low as $100!
If you have the same number of employees, you can choose a higher bond amount.
What are the Wyoming Janitorial Service Bond conditions?
- Below are the important individuals or organizations involved in the bond:
Principal – the Janitorial Service Company
Obligee – the Janitorial Service Company’s client
Surety – the surety bond company that will issue the bond
- The claim will be carried out in compliance with the bond’s provisions, and all other industry regulations.
- The principal purchases the surety bond in order to protect the obligee in the event of a fraudulent act.
- If one of the Janitorial Service Company’s employees is accused of theft and has been proven guilty based on a number of evidence, the obligee may file a claim on the surety bond.
How do I obtain a Wyoming Janitorial Service Bond?
This bond can be secured by following these simple steps:
STEP 1: Apply for the bond
You need to submit a bond application.
STEP 2: Underwriting
We will ask for information needed for the bond. This will include information such as your credit score, financial history, and business performance history. All of these will be scrutinized by an underwriter.
STEP 3: Bond execution
As soon as the underwriter has completed the prequalification process, we’ll issue the bond and send it to you.
Get started on yours today by giving us a call!