What Does “bonded” Mean on a Job Application?
The term “bonded” on a job application is used when the job requires working with valuables or a lot of cash and the employer wants to know if the applicant has insurance. Another name for this bond is “surety bond.”
There are bonding companies and some insurance companies that offer a surety bond for a person, business or subcontractor to pay for damaged goods or stolen property, should the employee commit the theft. When the employer files a claim, there is an investigation and if the worker is found to be at fault, or guilty of a crime, the bonding company pays the employer from the bond.