Federal Bonding Program

Federal Bonding Program

A program of the U.S. Department of Labor issuing bonds to insure or guarantee the insurance of ex-offenders. Bonding is the process of acquiring insurance against employee theft or malfeasance, and is required in some jobs in which the employee handles a large amount of money. The Federal Bonding Program assists in the rehabilitation of ex-offenders by providing this insurance if a potential employee has too high a risk to be commercially insured. It was established in 1966.
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The Federal Bonding Program offers coverage for "hard to place" applicants such as ex-offenders who are ineligible for fidelity bonding through regular commercial insurance carriers.
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