Q:
What Does "bonded" Mean on a Job Application?
A:
Quick Answer
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."
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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.
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