Here’s All You Need to Know about ERISA Fidelity Bond
ERISA, or Employee Retirement Income Security Act, came into being in the year 1974. This act basically protects the rights of employees working in private organizations for pension and other employee benefits. The United States Department of Labor oversees its enforcement in the country.
Employees of different sectors across the country often report fraud and forgery happening to their benefit plans. ERISA fidelity bond was devised to protect their rights in such events. These bonds further en read more
Surety Bonds and All You Need to Know About Them
We all know what insurance is and how it works. We need it to cover our financial losses in different scenarios. However, not everything can be covered under insurance. This holds true in the case of work contracts which normally don’t receive insurance coverage. For them, it’s a surety bond that provides the much-needed financial protection.
But what are surety bonds exactly?
Surety bonds are a form of a binding contract between two parties, with a third party issuing the bond. The firs read more
What You Should Know About Public Official Bonds
There are certain professions that require bonding, especially those in a public office. Most of these come under the public official bonds. Today one can buy public official bonds online. Here are a few things you should know about this bond:
It is required of public officials
As the name suggests, public official bonds are required of public officials. It is meant to ensure that public officials discharge their duties faithfully. Officials who are required to purchase these bonds include read more
How to Buy an Alcoholic Beverage Bond
If you are dealing with alcoholic beverages, be it selling, storing or acting as a dealer, you will need to be bonded in order to get a license. The state asks for a bond to ensure there are financial penalties for violating any legal provisions regarding the trade of alcohol. You can buy the bond from an alcoholic beverage bond agency.
To buy the bond, you should:
Research the kind of bond you need: Alcoholic bonds differ by state and the state agency that you will be required to submit t read more
What You Need to Consider When Buying Cyber Risk Insurance
With the prevalence of technology and our dependence on it, buying cyber risk insurance is imperative for any business. However, you do need to consider the following points before buying it:
Assess your risks: Before you start the process, assess the risks your organization typically faces. There is no point in paying additional coverage for factors that have no impact on your business. You can get an expert for the evaluation.
Coverage: You can buy comprehensive coverage or get an extens read more
6 Things to Know before Buying Medicare Bonds online
Also known as DEMPOS bonds, Medicare Bonds are required by the Centers for Medicare and Medicaid Services or CMS. It is designed to reduce instances of fraudulent billing to Medicare. You can buy Medicare Bonds online. Here are a few things you should know about Medicare Bonds:
- It is a requirement of all suppliers of durable medical equipment, prosthetics, and orthotics that intend to bill Medicare. You don’t need to buy the bond if you are not billing Medicare for the equipment. But keep read more
All about Utility Deposit Bonds
Utility deposit bond Florida is a type of commercial bond that is required from businesses or homeowners by utility companies to ensure that there is no delay in paying utility bills. The obligee here is the utility company and the principal is the homeowner or business. If there is a breach in the conditions of the bond, the principal and the surety will both be liable for paying the compensation.
Who needs utility deposit bonds?
Not everyone needs a utility deposit bond. Homeowners or in read more
How to Buy Surety Bonds Online
Buying a bond is very easy these days, thanks to the internet. You can simply shop around and find the best surety bonds online that meet your requirements. But this must be done carefully.
Determine the type: You have to first decide the type of bond that you need to buy. It will be part of the license, permit or contract that you are trying to obtain. Some industries have more than one bond. For instance, alcohol bonds depend on the nature of the trade and the state. Before anything else, y read more